New Delhi: The Mumbai Police is expected to lodge an FIR against the former Mumbai Congress chief Kripashankar Singh on Monday in connection with an alleged Rs 320 crore disproportionate assets case. Singh had stepped down after the High Court order against him.
Earlier on February 24, terming the maze of transactions by Kripashankar Singh and his family members as 'dubious', the Bombay High Court had held that the leader's dealings with his son had attributes of money laundering.
"Several transactions shown to have been done between Kripashankar and his son Narendra Kumar Singh are mere counter entries and demonstrate only an attempt to create cross entries, the common feature and attribute of money laundering," a division bench of Chief Justice Mohit Shah and Justice Roshan Dalvi observed while ordering prosecution of Singh and his family for criminal misconduct and corruption.
Raising questions as to why Singh would give several lakhs to his son and take several lakhs from him, the court said, "The report of the Income Tax speaks eloquently of dubious transactions by the respondent 11 (Narendra) remarking that there are huge unsecured loans from builders aside from advance of huge interest free loans and gifts taken from as well as given to friends and family members."
Noting that Narendra's assets were grossly disproportionate to his known source of income as a pilot with Jet Airways, the court said, "The known source of income is wholly inadequate to support his expenses or justify his investments."
(With additional inputs from PTI)