BJP MP’s firm financed 10% of Adarsh flat-buyers
The San Finance Corporation (SFC), which has Rajya Sabha member Ajay Sancheti (BJP) as a
partner, has financed nearly one-tenth of the 103 flats of the scam-hit Adarsh cooperative housing society.
Abhay Sancheti, another partner of the firm told the two-member judicial panel looking into Adarsh’s irregularities, that it ‘granted loans to 10 people’ who were allotted flats in Adarsh cooperative housing society.
Permanand K Hinduja, a retired defence estates officer took loan in 2004 and got possession of the flat. He was shown a letter by Dipan Merchant, a senior counsel of the commission, which in effect conveyed SFC’s interest in the flats.
The letter said that the flat allotted to the borrower will be transferred to the company if he/she fails to repay the amount. He was yet to pay Rs 21,782 at 15 percent per annum to the firm. He said the firm did not demand any payments from him.
Sancheti also said the firm is in the financing business for decades. The loans were given in phases by cheques to applicants or directly to Adarsh housing society after seeing allotment letters.
The income tax department is also evaluating the transaction made by the firm. The commission has already submitted a final report on ownership and reservation of land.
To read more real estate news:
Are high-rise apartments safe to reside?
Source: Times of India
Adrash Society, defence, Flat, Flats, flats for rent, Flats for sale, inco0me tax returns, Income Tax, Loan, Mumbai, Payment, Tax, The income tax department
