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I-T auctions Mumbai flat at over Rs 12 cr in case against Bofors agent Win Chadha

I-T auctions Mumbai flat at over Rs 12 cr in case against Bofors agent Win Chadha

The I-T Department has auctioned a flat at a posh south Mumbai locality for over Rs 12 crore in the process to recover multi-crore dues of late Win Chadha, an alleged middleman whose name cropped up in the Bofors deal case. The 3-BHK flat in Palacimo Residential Society at Malabar Hills was purchased by a resident of the same housing society at its reserve price of Rs 12.02 crore at a government auction held in Mumbai, a senior official said.

The tax recovery unit (international taxation) of the department in Delhi had last month issued a 'proclamation of sale' notice with regard to the flat in an alleged tax default case against Hersh Chadha, who is also the legal heir of Win Chadha. Win Chadha died in 2001 at the age of 77.

The Central Bureau of Investigation (CBI) had registered an FIR in 1990 against Martin Ardbo, the then president of AB Bofors, Chadha and the Hinduja brothers for probing alleged corruption charges in the purchase of 400 155mm howitzer guns for the Indian Army. The case had become a political hot potato with the name of former prime minister Rajiv Gandhi and others being dragged into the scandal after the Swedish Radio on April 16, 1987 claimed that the Bofors company had paid bribes to top Indian politicians and defence personnel to bag the deal.

The CBI had also charge-sheeted Win Chadha, who died during the course of this case. The income tax dues pertained to alleged receipt of commission from Bofors, a Swedish company, by Win Chadha that was allegedly not disclosed by him to tax authorities in India.

The I-T asset sale notice said Rs 224,02,34,972 (plus interest amount) is due on "defaulter" Hersh W Chadha as he is the legal heir of Win Chadha. The auctioned flat has been identified as 'E-1, Palacimo, 5th Floor, Silver Oak estate, Bhulabhai Desai Road, Mumbai-400026'.

The department, in the auction notice, has described the features flat and that it is located in an upmarket residential and semi-commercial posh locality of south Mumbai. "The area has a good network of roads and many famous landmarks. The coastal road which is coming up will further enhance the connectivity manifold.

"The area has famous landmarks like Breach Candy Hospital, Breach Candy Club, Mahalaxmi Temple, Sophia College, Amarsons and Tata Gardens," the I-T notice read. The taxman has also notified Hersh Chadha, in the same notice, about the auction but they said the authorities got no response from him.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



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