The Directorate of Enforcement (ED) grilled Rajasthan chief minister Ashok Gehlot's son Vaibhav Gehlot for seven hours in a case related to Foreign Exchange Management Act (FEMA).
Vaibhav Gehlot after rigourous interrogation maintained that there is no case of foreign exchange violation.
“Neither I nor any of my companies have anything to do with FEMA. There is no foreign transactions in my companies. I have already told them 10-12 years back. There is nothing new in the case,” said Vaibhav Gehlot after coming out of ED office in New Delhi.
He said that ED has asked him to appear again on November 16, 2023.
Why Vaibhav was summoned?
The summons to Vaibhav were issued in connection with the agency's action in August this year in connection with a FEMA case involving Triton Hotels and Resorts Pvt. Ltd., Vardha Enterprises Pvt. Ltd. and its Directors, Promoters Shiv Shankar Sharma, Ratan Kant Sharma and others.
The ED, in September this year, said that it had carried out searches from August 29 to 31 at various locations in Jaipur, Udaipur, Mumbai and Delhi in connection with the case.It had also said that during the search operations, unaccounted cash of Rs 1.27 crore, various incriminating documents including digital evidences, hard disks, mobiles etc. were seized which reveal large scale transactions done by the group out of books of account.
Unaccounted cash receipts have been invested in development of Hotels.The ED had registered a case on the basis of credible information wherein Triton Hotels and Resorts Pvt. Ltd. received FDI from Mauritius-based Shivnar Holdings Ltd at a huge premium which was revised several times violating FEMA provisions.It said that information further revealed that Triton Group has been involved in “Hawala transactions” having “cross border implications”.
The sources said that Vaibhav question was necessitated after Ratan Kant Sharma's alleged links with him. Ratan Kant Sharma has been a business partner of Vaibhav in a car rental company in the past.
What Vaibhav Gehlot Says
Vaibhav Gehlot said that he has no connection with Triton group except taxi service.
After receiving the summon from ED, Vaibhav Gehlot said that the case is 12 years old and he had given all the documents related to that. “They got nothing that time. Now with elections round the corner, they have again raised the issue,” he said. As far as his connection with Triton Group, which runs Fairmont Hotel in Jaipur is concerned, he said that his relation is limited to providing taxi service. “I am not a partner in any of their companies. I had never been partner or director in Triton India. I have no idea about their companies' foreign transactions. I have no offshore business and no foreign asset,” he said .
Legal advisor to Triton Hotels
Vaibhav Gehlot is legal advisor to Triton Hotels and has business links with Ratan Kant Sharma, director of Triton Hotels. The BJP has questioned business relationship of Vaibhav Gehlot and Ratan Kant Sharma 10 years ago also. Vaibhav Gehlot said that Ratan Kant Sharma had been shareholder of his car rental company – Sunlight Car Rental Services Private Limited for some time. “I have never had any business relationship with any other people named in the case. As per the complaint with ED, Ratan Kant Sharma had been director in Vaibhav Gehlot's car rental company.
Vivek Shukla is a management graduate who has worked in corporate worked for 20 years and is now pursuing his passion — news.
