Government probing Russians Land deals in Morjim

March 20, 2008	(1 votes, average: 1 out of 5)  Loading ...
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The government authorities are investigating Mr Leonid Beyzer, a Russian on whom a show-cause notice has been served for cancellation of his visa and his subsequent deportation, for various land deals in the state and his involvement in other illegalities. They have also written to the central government to ban his entry in the country in future for illegally buying properties in Goa.

According to the information provided by sources in the Goa police as well as the state administration, the role of the Russian, who is reported to have been convicted in a drug trafficking case in 1989 in erstwhile Russia, bought five properties in Morjim village of Pernem taluka, within one month of his entry in the state and registering a company.

The authorities said that the Russian, who managed to register two companies while on a tourist visa to the state in 2005, bought the land measuring 27,288 sq metres and that he bought the properties within just a month from registering two companies Artlibori Resorts Private Ltd and True Axis on March 17 and 18 in 2005.

The Russian is being investigated for the modus operandi in the land deals and whether he used fraudulent means to register the companies, said a senior government official. He went on to add that the source of income of the Russian and whether the money spent on buying these properties were routed through the proper channel (with Reserve Bank of India clearances) was also being probed.

The sources in the police department said that while the Russian came on a tourist visa in 2005, he got a business visa issued in Kathmandu during his visit in 2006. This year he has come on a business visa issued by the Indian embassy in Moscow. The visa is valid from June 7, 2007 to June 6, 2008.

Though the visa conditions stipulate that any person who comes on a business visa needs to register himself with the foreigners branch of the state police if he were to stay for a period exceeding 180 days continuously, Mr Beyzer got himself registered recently, thereby violating the law.

While the biggest property measuring 19,906 square metres was registered by him on April 18, 2005, and was bought at a cost of over Rs 1.29 crore. The sale deed of first purchase of land measuring 3,065 square metres, bought at a cost of Rs 45.97 lakh, was registered on March 22, within a week, after his companies were registered.

Two other properties measuring 2,725 square metres and 1,157 square metres were registered on March 25, 2005, and April 4, 2005 at a cost of Rs 23 lakh and Rs 10 lakh respectively, raising questions on how the funds of over Rs 2 crore used for these land purchases were channelised in such a short time and whether or not it had RBI approval.According to the information provided by the Goa office of the registrar of companies, RBI approval was not required while registering a company but for real estate companies a minimum investment of Rs 5 crore has to be channelised through the RBI within six months of registration of companies.

The office of registrar of companies also said that though the approval of the name of the company was given within three days other formalities for registration of company take about a week if forms 1, 18, 32 and memorandum of company and its articles were in order. It also informed that normally hotel and real estate companies owned by foreigners were normally registered in Goa office and that for registration of banking companies RBI approval was necessary at the time of registration.

News Published Under:   Real Estate India |

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