Monserrate using funds to build hotel
Income tax raids on the homes and offices of former Goa government employee S Suryanarayana in Goa and Hyderabad in 2009, 2010, and 2011 provided crucial documents to corroborate the trail of money in the land scam.
The raids were conducted in connection with Suryanarayana’s I-T assessment for 2007-08. Suryanarayana had declared Rs 2.1 lakh in his 2007 returns, yet he had been the conduit for crores of rupees being routed into the properties business in Goa, the I-T department said. His wife’s bank account showed a receipt of Rs 5 crore that year.
Officials also found corroborative evidence in raids on Sadiq Shaik and his partner at Primeslots Properties. Shaik transferred land worth Rs 11.58 crore in Sancoale which he paid for with money received from Suryanarayana to Good Earth Developers in which Monserrate’s son Rohit is the only capital contributing partner. Though Shaik claimed he sold the property to Rohit, he received only Rs 50,000 for it.
Sadiq Shaik also transferred Rs 15 crore to Raj Hospitality of which Monserrate, his wife Jennifer and son Rohit are directors. Shaik who could not account for the source of the money said this was a “share” application and Raj Hospitality claimed it was a loan. The two amounts paid to the Monserrates was part of the Rs 26.5 crore in kickbacks for land conversions, officials said. Raj Hospitality is putting up a seven-storey hotel.
