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Rajasthan: On Wednesday, The Probe Agency Enforcement Directorate (ED) carried out searches at the premises of the son of former Rajasthan CM Ashok Gehlot, Vaibhav Gehlot in connection with the foreign exchange violation case. In this case, ED has issued summons to Vaibhav Gehlot and interrogated him.
On October 30, he appeared before the ED. After this, the ED issued a second summons and asked them to appear in the Delhi office on November 16. He was issued summons under the provisions of the Foreign Exchange Management Act (FEMA) to appear before the investigating officer of the case at its headquarters on APJ Abdul Kalam Road.
The case dates back to 2011 when an investigation under FEMA was initiated against Shiv Shankar Sharma and Ratan Kant Sharma, directors and promoters of Triton Hotels and Resorts Private Limited. Ratan Sharma is said to be Vaibhav Gehlot’s business partner.
The development comes as part of an ongoing investigation into alleged violations by FEMA. The ED is conducting inquiries related to financial transactions and foreign exchange issues and the search is linked to this investigation.
According to the ED, funds were diverted from a Mauritius-based firm to Triton Hotels in the year 2011 by purchasing 2500 shares of the hotel. At that time the shares were bought at Rs 39900 per share while the share price was Rs 100. During this period the Foreign Affairs Regulation Act i.e. FEMA was violated.
