What were the responsibilities of three companies—Monkwell NV, the Jana Corporation and Shamiana Foods and Management Services—all based in the US? Why were they wound up in 1996?
Monkwell NV was set up during the tenure of Mr Kerkar as a holding company and held the shares of Jana Corporation which in turn is the operating company of the Washington Hotel. As for Shamiana Foods and Management Services, we are in the process of ascertaining more details. To the best of my knowledge, neither Jana Corporation nor Monkwell NV have been wound up.
Was RBI informed of the formation and existence of these companies? Apparently, large funds transfers happened between these three companies and Taj International, many of them based only on oral requests?
We are in the process of examining and investigating the full facts as to the formation and existence of these companies as also the various types of transaction entered into by them.
We are in possession of some documents that apparently show that Lenny Menezes, president, Taj International, Leo Fernandes, VP-Washington DC, Abe Goswami, VP-accounts, G.P. Munjal and Deepak Punjabi, VP-administration, New York were collectively covered under a $1 million insurance policy against loss of jobs. The premia were paid by Shamiana. Our source claims that the insurance company paid up $1 million after Monkwell, Jana and Shamiana were wound up. Is this true, and if it is, do you feel there is anything irregular about the deal?
We are not aware of the insurance policy referred to by you or about the alleged payments made by the insurance company to the beneficiaries. We will greatly appreciate your letting us have the documents available with you so that we may investigate this matter further.
Is Mr Menezes being investigated for assets disproportionate to income, including houses in New York and London?
We are unaware of the assets either held or acquired by Mr Menezes abroad.
Did IHCL invest in the Bentota Resort Project in Sri Lanka? If so, was RBI approval taken during the investment?
IHCL has not invested in Bentota Resort Project in Sri Lanka. However, it would appear that some of the associate companies may have committed to invest.
