Explaining the link between RKW Developers and Iqbal Mirchi

The documents accessed by Republic TV explain the links between suspicious companies, people and businesses operating in the real estate sector with D-Gang members and Mumbai based several businessmen dealing in crores. Companies after companies were made and all of them dealing in the real estate sector. Their operations are believed to have been in India, United Arab Emirates, and the United Kingdom. This article will explain why a company called RKW Developers is under the scanner.

In the course of our investigation, we came across a company called RKW Developers. Incorporated on 29 November 2007, the company is registered as a private limited company based in Mumbai. The company is involved in real estate business with a paid capital of 9500000 and share capital of 10000000. Its activities include buying, selling, renting as well as developing the land, hotel, residential apartments and so on. 

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Why is RKW Developers under scanner?

RKW developers is owned by Dheeraj Wadhawan, son of Rajesh Kumar Wadhawan of the famous Wadhawan family in Mumbai. The office of this company is located at the HDIL Towers in Mumbai. Housing Development and Infrastructure Limited (HDIL) is under investigation for fraud in relation to the PMC scam and two members of the Wadhwan family have been arrested. So the question is whether there is a relation between the PMC scam and this company?

More importantly, according to the company's own documents - which Republic TV has accessed and has carefully gone through - one of the directors for RKW Developers has been a man called Ranjeet Singh Bindra. Ranjeet Singh Bindra - who appears in the documents as Ranjeet Dhanvinder Singh Bindra (Dhanvinder Singh is Ranjeet Bindra's father) - has been arrested by the Enforcement Directorate in relation to terror funding/financing.

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Link between Iqbal Mirchi and Wadhawans?

In its remand copy, the enforcement directorate claims that Ranjeet Bindra "negotiated with Iqbal Memon on behalf of M/s Sunblink Real Estate Pvt. Ltd. and finalized the deal" as well "got brokerage/commission of Rs. 30 cr. through market operators". One of the directors of Sunblink Real Estate (another company under investigation) had given statement saying that "the negotiations of the deal with Iqbal Mirchi and Humayun Merchant" (a close confidant of Iqbal Mirchi with power of attorney) "was undertaken by Ranjeet Singh Bindra and for the purpose he was to receive brokerage of Rs. 40 to 50 cr."

In other words, Ranjeet Bindra was dealing with the right-hand man of Iqbal Mirchi and earned money from those property dealings and was also involved in the property business with Dheeraj Wadhawan. According to the documents accessed, Ranjit Bindra associated with RKW Developers in the capacity of the director and had joined the company in 2010. It is also important because the money used and earned from several property dealings are claimed by the agency as proceeds of crime.

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