PANAJI
The seven year-long ACB probe which climaxed with the registration of the First Information report (FIR) against the Kavlekar couple late on Saturday night concluded that the total disproportionate assets amassed by Kavlekar between January 1, 2007 and April 30, 2013 stand at Rs 4.78 crore or 59.21 per cent more than his known sources of income.
Taking swift steps, ACB sleuths raided Kavlekar's residence at Betul and his offices in Quepem and Margao.
The probe correlates the sudden steep rise in Kavlekar's assets, especially landed properties with his six-and-half-year tenure as the chairman of Goa Industrial Development Corporation.
During this period, while his income from known sources stood at Rs 8.08 crore and his household expenditure was Rs 87.88 lakh, Kavlekar acquired properties worth about Rs 12.50 crore, much higher than his estimated savings of Rs 7.20 crore.
Engaging the services of an approved Malayalam translator from Kerala to read the property documents, the investigation revealed that Kavlekar purchased 14 different landed properties worth crores of rupees in Kerala, which were not disclosed in his Assets and Liabilities Statement submitted before the Lokayukta between 2013 and 2015.
Briefing the media, Superintendent of Police (ACB) Bosco George stated, "Last evening we registered a case of disproportionate assets against Kavlekar and his wife, Savitri under Section 13 (2) read with 13 (1) (e) (criminal misconduct by a public servant) of the Prevention of Corruption Act, 1988 and Section 109 (abetment) of IPC."
Savitri Kavlekar is the director of Savitri Packaging Products, Vrushal Estates, Vrushal Hotels and Vrushal Enterprises, companies owned by Kavlekar which function from a common office in Margao. Along with Kavlekar, she is a signatory on all financial and administrative documents.
SP George informed that ACB verified Kavlekar's income and expenditure statements and assets over his entire tenure from the time he was elected as MLA and till 2013. Kavlekar held the post of GIDC chairman for a total of six and half years spanning across three tenures. The first tenure was from March 2, 2005 till April 7, 2005, the second was from July 19, 2005 to May 30, 2007 the third tenure was from June 28, 2007 to February 10, 2012.
"We have taken a check period of January 1, 2007 to April 30, 2013, when he acquired the maximum assets and properties," SP George stated.
Kavlekar and his wife each have declared their income before the Lokayukta of a little over Rs one crore. In addition to this, ACB has also taken into account the income tax returns filed by him, his agricultural income and all other known sources of income during the check period.
Though he was called for questioning on several occasions during the probe, Kavlekar failed to satisfy the ACB sleuths with his explanations and information. "We are not satisfied with his explanation. He has not been able to give us a satisfactory reply. It is because of that we have
to register the case," the ACB SP explained.
Meanwhile, SP George disclosed that the ACB is also probing the source of assets to the tune of Rs 5.50 crore, in addition to the Rs 4.78 crore disproportionate assets. If the probe confirms that Kavlekar has acquired this amount through undeclared sources, his disproportionate assets could go beyond 200 per cent.
Commenting on this, SP George stated, "Kavlekar says that he has acquired this amount through unsecured loans from companies in Mumbai. He says he borrowed the amount to acquire properties. But we don't know how he received this, by cash, cheque or draft or whether and how he has been repaying this loan."
ACB suspected that these Mumbai-based companies are shell companies set up by Kavlekar to cover up his assets. "This is yet to be verified. Once this is verified, the disproportionate assets are bound to be over 200 per cent," SP George said.
Sources had previously disclosed that the case revolves around a property admeasuring 61.01 acres allegedly acquired by Kavlekar in the name of Vrushal Estate and Development Pvt Ltd in Perunad village in Kerala between 2010 and 2011 at a suspected cost of Rs 32 crore. He had thereafter failed to declared this property before the Election Commission in his affidavit for the March 2012 Assembly elections. The piece of land was valued at Rs 5.80 crore though its market value was Rs 32 crore.
