One swindler has opened many shell companies to give investment advice to probable investors in Mumbai. These companies are engaged in money laundering on a large scale. Many senior social workers have demanded an inquiry against Anil Chandanmal Singhvi and his wife Nishi Anil Singhvi, the directors of these companies.
Sprouts exposed the corrupt deeds of Singhvi, who is a Chartered Accountant by profession, on November 31, 2021. After that, ED began action. Fearing reprisal, Singhvi sold the shares worth Rs 10 lakh for Rs 6 crore overnight. The entire transaction was suspicious. The complaints about this clandestine deal have been made to concerned departments, but no firm action has been taken as yet.
Sprouts followed up on the corrupt deals and economic offenses worth crores of rupees made by Singhvi’s corporate companies from time to time and published news stories about them in Sprouts.
In turn, Singhvi sent a legal notice to Sprouts Editor Unmesh Gujarathi on the letterhead of “ Kamal Cement”. He also warned Gujarathi not to get involved in these activities and tried to pressurise him. There was no outward No on the notice sent. Besides, the notice stated that it was sent on behalf of “Digvijay Cement”. It was not clear in what way “Kamal Cement” and “Digvijay Cement” were related.
Sprouts and the Special Investigation Team (SIT ) are not scared of any such threat. We have received many such threats from anti-social elements earlier too. After we exposed the spurious products being sold by Himalaya Herbals, a Rs. 1000 crore defamation suit was served to the Sprouts. Similarly, Lalbaugcha Raja Sarvajanik Ganeshotsav Mandal filed Rs. 350 crore notice to the Sprouts.
We are publishing the names of the shell companies of the Singhvi. The Singhvi’s have evaded the GST worth Rs 450 crore, the SIT has learned. The complaints have been lodged with the Income Tax, SEBI, ED, and GST department. The complaint to inquire about and cancel the registration of Singhvi’s companies and cancel his registration as a Chartered Accountant has also been made.
The shell companies of Singhvis involved in money laundering include:
- Subex Limited
- Shree Digvijay Cement Co. Ltd.
- I Can Investments Advisors Pvt. Ltd.
- Assets Care and Reconstruction Enterprises Ltd.
- Foundation For liberal and Management Education Pathfinders Advisors Private Ltd. Kidderpore Holdings Ltd.
- Iias Research Foundation