FRAUD ORIGINATED FROM ₹700 CRORE BANK SCAM

The action stems from FIRs filed by the CBI’s Banking Securities & Fraud Cell (BS&FC) alleging that Varron Aluminium and its group entities defrauded:

• Bank of India: ₹293.74 crore
• State Bank of India: ₹401.25 crore

As per the CBI chargesheet, a manual Letter of Credit (LC) of ₹300 crore was issued by Canara Bank in favour of group company VACPL, which Bank of India discounted without proper verification.

ED FINDINGS: CYCLICAL LCs AND SHELL ENTITIES

ED’s investigation revealed that:

• Payments for earlier LCs were repeatedly made by opening new LCs in favour of VAPL, VIPL, and related shell companies.
• The cycle was used to repay old loans, reduce cash credit exposure, and inflate the books of group companies.

During the probe, ED identified proceeds of crime and attached immovable properties worth ₹179.27 crore through two separate orders.

SECTION 8(8) OF PMLA: BASIS FOR RESTITUTION

The agency said the restitution aligns with Section 8(8) of PMLA, which permits restoration of attached or confiscated properties to victims or legitimate claimants when properties—though tied to illicit activity—legally belong to innocent parties.

ED added that it continues to encourage banks and financial institutions to seek restoration of claims using this provision.

SBI’S CLAIM AND COURT ORDER

SBI filed a miscellaneous application before the Special Court (PMLA), Mumbai, seeking restoration of three attached properties valued at ₹55.85 crore (valuation year 2021).

During proceedings, ED submitted an affidavit confirming its willingness to restitute the properties to SBI.

On 26 September 2025, the Special Court allowed the application and ordered the restoration of all three immovable assets to SBI.

Also Read: Big action against errant developers, ₹101 crore recovered

The post ED Clears Restitution of ₹55.85 Crore Attached Properties to SBI in Varron Aluminium Case appeared first on Square Feat India.

By Varun Singh

A flat located in Silver Oak Estate’s Palacimo building at upmarket Bhulabhai Desai Road was sold recently by the Tax Recovery Officer (International Taxation) of the Income Tax Department.

The notice for the sale of the flat was issued in September 2019, for the recovery of the sum of Rs 224 crore (plus interest) from the defaulter Hersh W Chadha, (Legal heir of Late W.N. Chadha).

Win Chadha’s name came up as an accuse in the Bofors case, where. he was the alleged middleman. Chadha died in 2001 at the age of 77.

The flat E 1, is located on the fifth floor of the building Palacimo, in Silver Oak Estate. The buyer of the flat is a resident of the same floor.

According to documents available with SquareFeatIndia.com, the paper work regarding the sale was carried out on December 12, 2019.

However, the deal was registered between the Income Tax Department’s Tax Recovery Officer (International Taxation) U K Das and the new buyers on August 17, 2020.

The stamp duty paid for the 3 BHK flat was Rs 72.15 lakh. The flat measures 1604 square foot, and the new buyers also got a store room and a garage along with the flat.

The reserve price of the flat was Rs 12.02 crore, and it was sold for Rs 12,02,51,000. Only Rs 51,000 above the reserve price.

According to sources, the auction was held in November 2019, at Air India Building, Nariman Point.

Chadha’s name popped up in the Bofors case, which rocked the nation in the 90’s. According to a report, the CBI in the 1990 had registered an FIR against Martin Ardbo, the then president of AB Bofors, Win Chadda and the Hinduja brothers. CBI was probing an alleged corruption charges in the purchase of howitzer guns for the Indian Army.

An email sent to the TRO seeking a comment got us no response.

The road on which the building is located is one of the. poshest locations in the city, where many influential people reside.

Also Read: Builder Sells SoBO Flat At Less, For Want Of Liquidity

The post Bofors Agent Win Chadha’s Silver Oak Estate Flat Sold appeared first on Square Feat India.

By Varun Singh

A detailed statement was release minutes agony Satish Maneshsinde, lawyer of Rhea Chakraborty. In this statement she has denied any wrong doing including no transactions. Says ready to cooperate with all agencies, and denies knowing or ever meeting Aaditya Thackeray.

Below is the statement of Rhea as it is given out by her lawyer.

Rhea is the daughter of an Indian Army Surgeon and a Maharashtrian House Wife. She has been summoned by Mumbai police a State of Maharashtra Agency and Enforcement Directorate a Union of India Agency on several dates for inquiry , investigations and gathering electronic evidence. She has appeared on all the appointed dates when ever summoned as a law abiding citizen. Both the agencies have investigated her relationship with SSR and her financial status at great length.
The Mumbai Police , and ED have collected all Electronic, Forensic and Medical including DNA evidence in the case. Bank Statements, Income Tax Returns , CCTV , CDR and Electronic Data are with both agencies. Till today nothing incriminating has been found against her. The Investigation Report of the Police is lying with the Supreme Court in a Sealed Cover. Even if Rhea is to be investigated by a third agency , she will face it. Thankfully in this Electronic Age nothing can be concocted or manufactured. Media is requested not to speculate its own theories and make unsubstantiated claims. She has remained silent to such allegations. Her silence should not be mistaken for a weakness. Truth will remain the same.

Rhea and Sushant were known to each other over the past several years as they were both working in the Indian Film Industry. Rhea and Sushant had maintained a cordial friendship and would occasionally communicate with each other. In April 2019, Rhea and Sushant had attended a party hosted by the film fraternity and shortly thereafter they began dating each other. Even though they spent a lot of time in each other’s homes , they officially moved in together in December 2019 and live at Mount Blanc, Bandra, till Rhea left on the 8th of June 2020.

Also Read: Sushant & Ankita had bought 2 different flats in 2013

It is total nonsense and an afterthought to make allegations after a period of 40 days , the manner in which it has been made before Bihar Police. No allegations whatsoever were made till 27th July 2020 by any body in the family before the Mumbai Police or to any authority. Their statements were recorded by police in Mumbai. They are educated and have an IPS officer OP Singh in the family. The allegations are totally concocted and fabricated for ulterior purposes. Rhea denies all allegations of abetment of suicide , misappropriation of funds and others or otherwise. Both the Mumbai Police and the Enforcement Directorate have been handed over all of Rhea’s financial documents which clearly show the falsity of such allegations. She has not received a single transfer from Sushants Accounts. All her Income Tax Returns have been examined by Police as well as ED. Neither of them have found anything incriminating against
In the initial months of their relationship, when Rhea had visited Sushant’s house , his sister Priyanka and her husband Siddharth were living with him. On one night, in and around April 2019, Rhea and Priyanka had gone out to a party. Priyanka consumed copious amounts of alcohol and was behaving inappropriately with men as well as women at that party. So, Rhea insisted that they return to Sushant’s home. Upon returning, Sushant and his sister continued drinking alcohol while Rhea retired for the night as she had a shoot the next morning. Rhea was asleep in Sushant’s room when she suddenly awoke to find Priyanka had got into bed with her and was groping her. Rhea was extremely shocked and demanded that she leave the room immediately. Subsequently, Rhea herself left the house. Thereafter, Rhea informed Sushant as to what had transpired and Sushant got into an argument with his sister regarding the same. That due to the aforesaid incident, the relationship between Sushant’s family and Rhea had been strained since inception. Even after his death when a list of 20 people was made to attend the Funeral, Rheas name was not included in the list and hence excluded from attending the Funeral.

Also Read: Sushant shifted in Bandra flat 6 months ago, was to reside here till 2022

Sushant had been calling his family, informing them of his decision to move out of Mumbai and requesting them to come meet him. After several days of Sushant calling and crying over the phone, his sister Meethu agreed to come live with him on 8th of June 2020. Due to this development, Sushant requested Rhea to live with her parents for the time being. Rhea had been suffering from her own anxiety issues and often endured panic attacks. Sushant’s conduct also aggravated these conditions. Even though Rhea was desirous of seeing her family, she was not at all comfortable with leaving Sushant. The very same day,8th June 2020, Rhea had arranged to have a therapy session of her own with Dr. Susan Walker and requested Sushant if she could leave after the session. However, Sushant told her to leave immediately before his sister Meethu arrived. Thus Rhea reluctantly left and informed Sushant to let her or her brother know about anything he required or in case he needed to talk.

Also Read: Rhea’s father bought flat 8 YEARS before Sushant used it as address

Rhea has always maintained that she would like the truth of the matter to be revealed by virtue of a fair and impartial investigation. She has admitted in her Petition to the SC that she sent a Message to Amit Shah Union HM to order a CBI investigation. She has also informed the SC that if the Court Transfers it to CBI she had no objection. What she has challenged is the Illegal Registration and Investigation of Bihar Police without Jurisdiction and transfer to CBI of an illegal investigation. Unless the Maharashtra Govt Consents to a CBI investigation , the Case cannot be transferred to CBI. Instead the Bihar Govt ought to have transferred the investigation to Mumbai Police as per the Notification issued by the Union Government. The very foundation of the Federal Structure is at stake by the present actions for Bihar Govt.

• Rhea and her family has so far cooperated with the Enforcement Directorate.

As per law, the Bihar Police ought to have registered a 0 FIR and transferred the investigation to the Mumbai Police. The Bihar Police has no Jurisdiction to investigate the case. Rhea will not submit to an illegal investigation. There were various reasons that made my client apprehensive about the nature of the investigation that would be conducted by the Bihar Police. The Bihar Police registered the FIR on the same day that the complaint was received , despite a delay of over 40 days. The Bihar Police arrived in Mumbai without ever summoning my client to cooperate with their investigation. There were several newspaper articles quoting the advocate of the complainant as having stated that the Bihar Police were hesitant to register the FIR but did so at the behest of the political leadership in Bihar. My Client has not shied away from cooperating with any investigating agency till date, but she is entitled to a fair and impartial investigation by an agency which has Jurisdiction to investigate the Case. The manner in which the proceedings were instituted and being conducted in Bihar made it appear unlikely that she would receive a fair treatment.

The comments made at the last hearing before the Hon’ble Supreme Court on the 11th of August 2020, make it evident that this has become more about politics than the truth. Unwanted and irrelevant submissions are being made. The number of Politicians taking advantage of this case on the eve of elections in Bihar .

Rhea does not know and has never met Aaditya Thackeray till today. Neither has she ever spoken to him telephonically or otherwise. Though she has heard of him as a leader of the Shiv Sena.

She knows and has met Dino Morea socially as he is her Senior in the Film Industry.

Also Read: Rhea Chakraborty bought Khar east flat in May 2018

The post Rhea denies all allegations says never met Aaditya Thackeray appeared first on Square Feat India.

By Varun Singh

Sushant Singh Rajput and his ex girlfriend Ankita Lokhande bought two different flats in the year 2013. Exclusive documents available with SquareFeatIndia reveal.

Both Sushant and Ankita even registered the flats separately and the sellers of the flats were different people.

Each flat cost Rs 1.35 crore and is located on the fourth floor of the building named Interface Heights in Malad.

Sushant Singh Rajput’s flat is numbered 403, the carpet area of the flat is 683 sq ft and he had got a car park numbered 040 along with the purchase of the flat.

Ankita’s flat is 404, the carpet area of her flat is 683 sq ft and she also got a car park, which is numbered 041.

While Sushant bought the flat from Prashant and Mansi Gupta. Ankita was sold the flat by Savitri Devi Gupta.

Both the flats were registered on May 10, 2013. The ready reckoner rates of the flats were Rs 86.38 lakh. They both paid way above the ready reckoner rates.

Sushant paid Rs 6.75 lakh as stamp duty, and the same amount was paid by Ankita for registering her flat too.

Both of them while registering the Malad flat gave their address as that of a 6th floor apartment in Andheri west.

Sushant from Andheri moved to Malad and from there he went to Bandra to stay. Sushant and Ankita broke up somewhere in the year 2016.

Ankita still resides in the flat that she had bought way back in May 2013.

Sushant’s dead body was found in June in his rented apartment in Mount Blanc building located at Bandra. Sushant had rented this apartment in December 2019 and would pay Rs 4.51 lakh as per month rent.

Also Read: Sushant shifted in Bandra flat 6 months ago, was to reside here till 2022

His rumoured girldfriend Rhea Chakraborty is being grilled by investigating agencies. There was a rumour that Rhea had recently bought an apartment in Khar.

Also Read: Rhea Chakraborty bought Khar east flat in May 2018

However, a detailed investigation by SquareFeatIndia found out that, Rhea had bought her Khar east flat way back in May 2018. She apparently started dating Sushant in 2019.

Rhea had paid Rs 76 lakh as consideration for this flat measuring close to 354 sq ft located on the fourth floor of the building Gulmohar Avenue, Bandra North.

Similarly the Ulwe flat on which Rajput along with Rhea and her brother Showik registered two companies in 2019 and 2020, belongs to Rhea’s father Indrajit Chakraborty.

This flat was bought by Indrajit way back in 2011 for Rs 53 lakh, this flat was located on the fifth floor of the building Sai Fortune in Ulwe.

Also Read: Rhea’s father bought flat 8 YEARS before Sushant used it as address

The post Sushant & Ankita had bought 2 different flats in 2013 appeared first on Square Feat India.

By Varun Singh

Sushant Singh Rajput’s death came as a shocker for his fans and post that there’s a major controversy that has erupted.

There’s a nation that is divided over, whether it was a murder or a suicide. TV channels are buzzing with debates, and different conspiracy stories.

The investigations include police from two states, the ED has already questioned Sushant Singh’s girlfriend Rhea Chakraborty and the CBI has also registered an FIR.

Sushant had registered two companies, one in September 2019 and the other in January 2020.

The names of the companies are as follows VIVIDRAGE RHEALITYX PRIVATE LIMITED and FRONT INDIA FOR WORLD FOUNDATION.

While the first company has Sushant Singh, Rhea and her brother Showik as directors, the second company has only Sushant and Showik as directors.

Both the companies have one thing in common and that is the address. The address is that of a Ulwe flat, bearing number 503 in a building named Sai Fortune.

The flat is in the name of Rhea Chakraborty’s father Indrajit Chakraborty. He had bought the flat way back in October 2011.

Documents accessed by SquareFeatIndia.com reveal that, Rhea’s father paid Rs 53 lakh for the apartment.

The apartment measures 757 sq ft and is located on the fifth floor of the A wing of the building.

To be precise the flat was purchased by Rhea Chakraborty’s father on October 3, 2011. He paid a stamp duty of Rs 3 lakh for registering the flat with the registration department.

While Rhea’s father paid Rs 53 lakh for the flat, the ready reckoner value of the flat way back in 2011 stood at Rs 19.51 lakh.

This was not the first time, that Sushant used an address that was connected to Rhea’s father Indrajit.

In December 2019, when Sushant Singh Rajput rented an apartment in Bandra’s Mount Blanc, the address was connected to Indrajit.

Susahnt while carrying out the registration of the Mount Blanc apartment gave his address as Primrose, Juhu.

The Juhu flat was originally rented by Rhea in 2015 for 36 months, and then in 2018, the flat was rented by Indrajit Chakraborty for another 36 months.

Rhea in May 2018, bought a flat in Gulmohar Avenue, Khar east, for an amount of Rs 76 lakh. The area of the flat is a mere 354 sq ft, and Rhea paid a stamp duty of Rs 3.80 lakh for the registration. 

Rhea faced hours long interrogation by the ED and is expected to be interrogated again by the ED.

Also Read: Rhea Chakraborty bought Khar east flat in May 2018

The post Rhea’s father bought flat 8 YEARS before Sushant used it as address appeared first on Square Feat India.

By Varun Singh

Rhea Chakraborty has become a household name after the death of her actor boyfriend Sushant Singh Rajput.

Rhea Chakraborty has several allegations against her name including an FIR by the CBI.

One such allegation that was doing the round of social media was that she recently bought a flat in Khar east.

However, a detailed investigation carried out by SquareFeatIndia shows that Rhea Chakraborty had bought the flat way back in 2018.

Documents accessed by SquareFeatIndia show that Rhea Chakraborty registered the Khar east flat in May 2018.

To be precise the flat was registered by Rhea on May 28, 2018 for a consideration of Rs 76 lakh.

The flat is located on the fourth floor of the building Bandra North Gulmohar Avenue Wing E, Golibar Naka, Khar east.

The area of the flat is a mere 354 sq ft, and Rhea paid a stamp duty of Rs 3.80 lakh for the registration.

Satish Maneshinde, Rhea’s lawyer confirmed this and said the total deal was for Rs 85 lakh. This figure includes registration and other charges.

Rhea was 26-year-old when she booked the flat. Her documents during registration showed her address as New Shelter building located in Khar west.

The New Shelter building address was also on her documents in 2015, when she rented an apartment in Primrose building, Juhu Tara Road.

In October 2015, Rhea Chakraborty rented the first floor apartment in Primrose building for a period of three years.

Her rent for first 12 months stood at Rs 78,000, the next 12 months she paid Rs 83,460 per month rent and for the last 12 months, she paid Rs 89,302 as rent per month.

In September 2018, the same Juhu flat was then rented by her father Indrajit Chakraborty, for next 36 months.

For the initial 12 months the per month rent stood at Rs 94,000, for next 12 months it was Rs 1 lakh per month and the last 12 months the rent is Rs 1.07 lakh per month.

Rhea Chakraborty’s father during the agreement gave the address of his Ulwe flat in Sai Fortune building.

When Sushant Singh Rajput rented the apartment in Mount Blanc building, Bandra in December 2019, documents showed his address as Primrose, Juhu Tara Road.

In June 2020, Sushant Singh Rajput was found dead in the Bandra apartment. He had rented it for a period of 36 months at a per month rent of Rs 4.51 lakh.

There are several theories doing the rounds of social media, police of the two states are already involved in the investigations and now CBI too has made an entry.

The Sushant Singh Rajput case has caught the attention of the entire country and everyone is looking for answers.

Also Read: Sushant shifted in Bandra flat 6 months ago, was to reside here till 2022

The post Rhea Chakraborty bought Khar east flat in May 2018 appeared first on Square Feat India.