Prithviraj Kothari proved innocent in Surat Hawala Scam : ED

The Surat hawala racket busted by Enforcement Directorate (ED), Ahmedabad had said to have grown into a Rs 8,000 crore worth scam, making it one of the biggest cases of illegal money laundering in the country. According to highly placed sources, this case was being monitored by the Supreme Court-appointed-Special Investigation Team (SIT) investigating black money stashed away abroad and has now been resolved confirming Prithviraj Kothari has clean and honest.

ED had filed two chargesheets and the name of a well-known Mumbai-based bullion trader Prithviraj Kothari figures in various statements alleging his involvement in the racket as per the second charge sheet.  According to sources, Prithviraj Kothari was summoned several times by the ED and he appeared to record statement twice. Kothari has challenged ED’s investigation in the SC which ordered the ED not to arrest him as there was legal proof which justified Kothari’s innocence.

Although, after further investigation it was found that Madanlal Manekchand Jain, (another key accused) and Prithviraj Kothari’s nephew, Rakesh Kothari are family friends but there was no proof of any business ties or transactions. Reputed media houses had dragged their names in order to  procrastinate, though they had no valid support and legitimate validation of their false allegations which eventually lead all their efforts in vain.

Prithviraj Kothari, MD of RiddhiSiddhi Bullions( RSBL) issued a press statement saying, “Rakesh Kothari is not involved with our company, RSBL in any way or in any capacity. In fact he is not even in the bullion field. He is rightfully my nephew and has blood ties with me, but absolutely no business relations.”

After getting complete investigation details in hand, Indiatoday.in sought an official reaction from Prithviraj Kothari - who has now denied his role in this scam.

Ketan Kothari, director of RSBL Group companies replied in a email statement, "All these allegations are absolutely unfounded. Prithviraj Kothari is no way involved in any wrongdoing and neither has any charge sheet or complaint served against him. Some vested interests are trying to tarnish his image for which he shall take appropriate legal action. Prithiviraj Kothari has an unblemished business record. All his business practices are as per the law of the land and he strictly adheres to the principles of corporate governance and transparency. Since no charge sheet or complaint has been served upon him, he is unable to make any comment on the same. Moreover, the matter is now sub judice."