Vaibhav Gehlot, the son of Rajasthan Chief Minister Ashok Gehlot, appeared before the Enforcement Directorate (ED) on Monday to get his statement recorded in connection with an inquiry into alleged foreign exchange rule violations.
The agency had issued summons to Mr. Vaibhav Gehlot asking him to join the probe involving Triton Hotels & Resorts Private Limited and others.
In August, the ED had conducted searches at various locations in Jaipur, Udaipur, Mumbai and Delhi, under the Foreign Exchange Management Act (FEMA), in the case of Triton Hotels & Resorts, Vardha Enterprises Private Limited and its directors/promoters, Shiv Shankar Sharma, Rattan Kant Sharma and others.
The ED inquiry is based on “credible information” alleging that Triton Hotels & Resorts received Foreign Direct Investment from Shivnar Holdings Limited (Mauritius) at a huge premium, which was revised several times violating the FEMA provisions.
“Information further revealed that Triton Group has been involved in hawala transactions having cross- border implications,” the agency had earlier said, adding that it seized ₹1.27 crore in unaccounted cash, besides documents, during the searches.
The seized evidence revealed large-scale transactions done by the group were kept out of the books of account. Unaccounted cash receipts from various sources had been invested in the development of hotels, the agency alleged.
