The 2,000-page charge sheet names 16 persons including senior officials of IRB infrastructure
IRB Infrastructure Developers Chairman and Managing Director Virendra Mhaiskar and others along with its subsidiary Aryan Infrastructure Investments Private Limited (AIIPL) have been charge sheeted by Central Bureau of Investigation (CBI) in an alleged land scam, making company’s share prices to tank.
In 2009, the anomaly in the land deal along the Mumbai-Pune Expressway was exposed by the slain Right to Information activist Satish Shetty. In January 2010, the Pune based activist was stabbed to death in Talegaon, off Mumbai-Pune Expressway, which is months after unearthing the land dealing.
As per the CBI charge sheet filed with the Sessions Court, Pune, there’s involvement of AIIPL, Virendra Mhaiskar (then Director of AIIPL, for having issued Power of Attorney, in favour of then Project Head), Deepak D. Gadgil (Retired – Head Realty, Airport and Hospitality of the Company –then Project Head) and the Company along with certain other persons.
“…the CBI has filed a charge sheet today with the Sessions Court, Pune in the matter of an alleged illegal purchase of government land in village Pimploli and nearby, Taluka Maval, District Pune by AIIPL), a subsidiary of IRB Infrastructure Developers Limited,” read company’s filing with BSE.
Soon after the trading session began on Thursday, IRB Infrastructure Developers share prices fell to over 6% only to recover 3% later during the day.
“Based on a preliminary review of the charge sheet, it appears that the charge sheet focuses on an alleged conspiracy to attempt to cheat for acquiring certain land parcels belonging to the government/MSRDC. We deny any allegations made against Mhaiskar, Gadgil, AIIPL and the Company in this matter and will seek appropriate remedies under law. The Company and its management are responsible citizens and have fully complied with the law of the land,” the company clarified.
Explaining the deal, the company added that AIIPL began acquiring land parcels from 2007 onwards an acquired approximately 1,200 acres of land parcels. In early 2009, AIIPL observed that around 5% of the total land parcels owned by it were, in fact, owned by the Maharashtra State Road Development Corporation. AIIPL on its own accord proceeded to cancel agreements to sell, for these land parcels The amount attributable to these 5% of land parcels, pertaining to which the charge sheet has been filed, is Rs 6 crore only.
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 "IRB Infrastructure stocks at 11-month low as CBI files chargesheet against firm")
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