Lalit Modi case: Singapore assures full support to ED team
On the second day of the their visit, the ED team met the legal officials of Singapore authorities to discuss the procedure of the letter of request, legal jurisdiction and various other legal issues that could be worked out together in case of Lalit Modi.
A three-member team of Enforcement Directorate (ED) is in Singapore to investigate the Rs 425 crore facilitation fee case involving former IPL chief Lalit Modi.
On the second day of the their visit on Wednesday, the ED team met the legal officials of Singapore authorities to discuss the procedure of the letter of request (LR), legal jurisdiction and various other legal issues that could be worked out together in case of Lalit Modi. Notably, the ED team landed in Singapore without a Letter of Request (LR).
The ED officials confirm Indiatoday.in, saying, "The Singapore authorities cooperated very well with our team and the outcome of our meeting was quite positive. Legal strategies had been worked out to share details regarding Lalit Modi case - with or without the Letter of Request in hand."
As the matter of fact, the two LRs supposed to be issued to Singapore and Mauritius this week, under PMLA Act, are still stuck in unknown corridors of Delhi. "Unless, these LRs reach Singapore and Mauritius, we could not expect much concrete details against Modi in our hand", the ED source said.
Line of investigation in Singapore?
Out of 16 show cause notices sent to Lalit Modi, one notice was related to Rs 425 crore facilitation fee case in which as per the ED's internal investigation, "Lalit Modi might be a beneficiary of the Rs 125 crore paid by MSM to WSG Mauritius (WSGM)".
As per the deal, out of Rs 425 crore, Sony's Singapore-based subsidiary MSM Satellite paid Rs 125 crore to WSGM (Mauritius).
The ED would like to know from Mauritius account where the money has gone and in whose bank accounts. The ED suspects that money was diverted back from Mauritius account to Singapore accounts-linked to Lalit Modi.
The ED official said, "We believe the money has come back in Singapore. Our information is the MSM's bank account was planned by Modi and so as many other bank accounts opened in Singapore to divert the money. It could be in the name of companies (created by Modi) or the individuals that we need to get hold."
The ED team has another two days for investigation in Lalit Modi case. It would be interesting to see what really comes out from this first-ever official ED tour in Singapore.
But till now on the first day of trip, the ED team has been successful in the execution of attachment order against Syed Masood - an accused in City Limouzine scam case.
The team is hopeful that black money of $29 million stashed (out of $42 million) in Masood's bank accounts in Singapore would be brought back in India very soon. The process of execution would continue for another two days as well.