New Delhi: Months after the Income Tax department surveyed the account books of a company in which Abir Lavasa, son of Election Commissioner Ashok Lavasa, is a director, and sent a notice, the Enforcement Directorate has started a probe against him and the firm for alleged violation of foreign exchange laws.
The Enforcement Directorate is probing Nourish Organic Foods Pvt Ltd under the Foreign Exchange Management Act (FEMA), The Indian Express has reported.
ED is investigating an amount of Rs 7.25 crore raised by Nourish in March 2019 from Saama Capital, a Mauritius-based early-stage investor, allegedly in violation of FEMA.
Abir Lavasa reportedly holds 10,000 shares in the company. Abir Lavasa has been a director of Nourish Organic Food Pvt. Ltd. since 14 November 2017. Saama Capital has also invested in Paytm, Snapdeal and ChaiPoint.
Ashok Lavasa’s wife and his sister had earlier come under scrutiny of the I-Tax department for alleged non-declaration of income and disproportionate assets.
ED notice to Mauritius firm too
The ED has sent summons to both Saama Capital and Nourish Organic Foods.
“There is a probe in connection with investments in the company where Lavasa is a director. The company was loss-making and yet received heavy investments at a premium. So we want to question (Abir) Lavasa about it,” the Express report quoted an ED official as saying.
Abir Lavasa told Express: “Yes, a summons was received last week. We are fully complying with the ongoing inquiry.”
About Ashok Lavasa
Ashok Lavasa was among the three election commissioners to oppose the clean chit given by the the Election Commission to both Prime Minister Narendra Modi and Amit Shah for violating the Model Code of Conduct while campaigning for the 2019 Lok Sabha Elections. Lavasa is also second in line to become the Chief Election Commissioner.
Four months after the results of the Lok Sabha elections, in September, Ashok Lavasa’s wife Novel Lavasa (a former banker with the State Bank of India) along with two other family members, got a notice by the Income Tax Department for alleged discrepancies I-T returns.
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