BJP leader Shelar's firm got sums from dubious entities: AAP

Aam Aadmi Party leader Preeti Sharma Menon today alleged that BJP leader Ashish Shelar's company has received huge sums through "share application and unsecured loans from dubious entities" despite not conducting any "visible" business, a charge dismissed as a "political conspiracy" by the MLA.
Demanding a probe into the "source of money trail", the AAP spokesperson said a similar "modus operandi" was adopted by NCP leader Chhagan Bhujbal, who was arrested earlier this year by Enforcement Directorate (ED) in connection with a money laundering case pertaining to Maharashtra Sadan scam.
Shelar is the Mumbai unit chief of BJP.
"Shelar formed a company 'Sarveshwar Logistics Pvt Ltd' in 2010, along with two other directors Mahesh Baldi and Rajendra Singh Chauhan.

"His company conducted no visible business and its annual revenues for the last five years have been paltry sums of Rs 0, Rs 12,867, Rs 10,000, Rs 10,000 and Rs 14,500, respectively. However, in its first fiscal year in 2010-2011, it (the company) immediately received share application money of Rs 3.6 crore and loans and advances of Rs 26 lakh," Menon alleged in a press conference.
"Shelar's firm also purchased property worth Rs 3 crore and in the very next year it received an unsecured loan of Rs 6 crore without any collateral or business model to show," she added.

The AAP leader said, "One wonders how come a start-up, with no business operation and no revenue, received such a high amount of share application money."

She said the "trend" continued and "at the end of fiscal year 2014-2015, the long-term borrowings of the firm stood at Rs 14.24 crore."
She claimed that the company now owns property worth Rs 18.46 crore "whereas its balance sheet still shows no business being conducted and no revenues realised."
Menon said she has written to Maharashtra Chief Minister Devendra Fadnavis, state Governor, Anti-Corruption Bureau (ACB), Economic Offences Wing (EOW), and the ED to probe the matter and ascertain the "source of money trail".

She further claimed that Shelar's PA Prakash Patil, "who is his co-director in Ridhi Dealmark Pvt Ltd Company, was a part of the Kolkata Web of Companies."
Menon alleged that Shelar was also director of Ridhi Dealmark Pvt Ltd Company, but he did not divulge this information in his election affidavit in last Assembly elections.
She said she has filed a complaint with Election Commission in this regard.
"Shelar started his company with a paltry sum and with no turnover, no operations, no revenue and a loss making company received vast sums of money as share application and today it now owns property worth Rs 18.46 crore, which is clear cut case of corruption," she alleged.