KOLKATA: Lifestyle and Home Center, two departmental stores at Axis Mall, New Town, were unwittingly stuck within the Mehul Choksi-Gitanjali Gems case after the Enforcement Directorate issued an attachment order at the property as a part of the central agency's seizure force that covered 41 properties national. The properties are valued at Rs 1,217 crore.
Sources mentioned Landmark Group that owns Lifestyle and Home Centre leased 80,000 sqft at Axis Mall from Mehul Choksi's flagship corporate Gitanjali Gems around 2016. The stores were operating from the positioning since October 2016. Choksi had allegedly bought the world in 2011 at Rs 30 crore. A Gitanjali Gems store had operated there first of all prior to the distance was leased to Landmark Group.
The stores offering a collection of style to males, women and kids thru multiple brands are well-liked among citizens of Rajarhat and Salt Lake.
A spokesperson of the Landmark Group denied knowledge of the attachment order and mentioned ED had not contacted its officials. No legitimate of Gitanjali Gems could be contacted.
While the stores endured to perform as standard on Friday, ED sources mentioned the notice shouldn't have a direct affect. "The defendant is given 180 days after an attachment order is issued. The user of the property cannot make any structural change in the interim period. The order will then be sent to the adjudicating authority. If the property is owned by the defendant, in this case Choksi, then it will be attached and the stores will have to relocate. However, if there is proof that it is not owned by him, then both stores can continue to operate thereafter," mentioned an legitimate.
Sources mentioned Landmark Group that owns Lifestyle and Home Centre leased 80,000 sqft at Axis Mall from Mehul Choksi's flagship corporate Gitanjali Gems around 2016. The stores were operating from the positioning since October 2016. Choksi had allegedly bought the world in 2011 at Rs 30 crore. A Gitanjali Gems store had operated there first of all prior to the distance was leased to Landmark Group.
The stores offering a collection of style to males, women and kids thru multiple brands are well-liked among citizens of Rajarhat and Salt Lake.
A spokesperson of the Landmark Group denied knowledge of the attachment order and mentioned ED had not contacted its officials. No legitimate of Gitanjali Gems could be contacted.
While the stores endured to perform as standard on Friday, ED sources mentioned the notice shouldn't have a direct affect. "The defendant is given 180 days after an attachment order is issued. The user of the property cannot make any structural change in the interim period. The order will then be sent to the adjudicating authority. If the property is owned by the defendant, in this case Choksi, then it will be attached and the stores will have to relocate. However, if there is proof that it is not owned by him, then both stores can continue to operate thereafter," mentioned an legitimate.
ED crackdown spectre on premium brand stores
![ED crackdown spectre on premium brand stores]()
Reviewed by Kailash
on
March 03, 2018
Rating:
