Yashwant Jadhav, a Shiv Sena leader and former BMC standing committee chairman, has been summoned by the Enforcement Directorate (ED) on charges of violating the Foreign Exchange Management Act (FEMA).
According to sources, Jadhav was attempting to purchase many flats in the Bilakahadi Chambers complex in Byculla, Mumbai, and had paid a sum to a US-based owner. This transaction is thought to have taken place through illegal channels.
The Income Tax Department moved for Yashwant Jadhav earlier this year, seizing forty-one properties allegedly belonging to him and his associates. The linked properties, according to India Today, include 31 flats in Bilakhadi Chambers, one property worth Rs 5 crore in Bandra, and the Hotel Imperial Crown in Byculla.
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