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7. M/s. Benchmark Buildcon Pvt. Ltd., is alleged to be a shell company engaged in business of entry accommodation. It is P.P. SALGAONKAR 4 of 42 2 ba 821-22 .doc alleged that out of total amount of Rs.5.35 Crores, which includes the sale consideration as well as stamp duty, the Applicant and the co-accused mobilised the cash payment of Rs.4 Crores from unknown sources and routed, placed, layered the said cash of Rs.4 Crores with the assistance of late Om Prakash Sharda through the bank account of his shell company M/s. Benchmark Buildcon Pvt. Ltd. Late Omprakash Sharda provided book entry of Rs.2 Crores each in the guise of unsecured loan to the bank account of Mr. Girish Choudhari and Mandakini Khadse from the account of M/s. Benchmark Buildcon Pvt. Ltd., whereas the co-accused Eknath Khadse mobilized cash of Rs.50 lakhs from his own account and routed to his wife's bank account. It is further alleged that the Applicant and the co-accused forged backdated loan agreement to project that this amount of Rs.4 Crores was received as loan from M/s. Benchmark Buildcon Pvt. Ltd. The laundered fund of Rs.5.53 Crores was utilized to purchase the said land and to pay the stamp duty and for registration of the land. 

P.P. SALGAONKAR                                                                            37 of 42


                                                                                       2 ba 821-22 .doc
46. In this regard, it would also be relevant to refer in brief to the statements of Arvind Udeshi, Devashu Upadhyaye, Manjunath Bashetty and Manjit Jhaju, the Directors of M/s. Benchmark Buildcon. Arvind Udeshi and Manjunath Bashetty had joined the company on monthly remuneration of Rs.25,000/- and Rs.15,000/- respectively, whereas Manjit Jhaju is a nephew of late Omprakash Sarda, who had bought M/s. Benchmark Buildcon in the year 2009. The statements of these witnesses recorded under Section 50 of P.M.L.A. indicate that M/s. Benchmark Buildcon was a paper company, which was not in the business of providing loan, but was actually providing accommodation entries to several clients. They claim that in the year 2016 late Omprakash Sarda had provided such book entry in the form of loan to the Applicant. They have stated that M/s. Benchmark Buildcon had provided loan of Rs.4 Crores to the Applicant and the co-accused on receiving equivalent cash amount from the Applicant before the said transaction was materialized. They claim that the loan agreement is a backdated agreement. Mr. Devashu Upadhyaye and Manjit Jhaju, the Directors of M/s. Benchmark Buildcon, who looked after the day to day business of the Company, have further stated that though it is projected that the loan amount of Rs.4 Crores has been paid through P.P. SALGAONKAR 38 of 42 2 ba 821-22 .doc banking channel, all the transactions were reversed and the equivalent amount of money was returned to the Applicant in cash.