The Enforcement Directorate (ED) raided SKIL Infrastructure Executive Chairman Nikhil Gandhi and seized jewellery, including diamonds, worth around Rs 30 crore. ED officials have been carrying out searches of lockers belonging to Gandhi and his relatives at two banks in South Mumbai and Central Mumbai. Gandhi’s company has extensively worked with Government of Gujarat for several projects. SKIL’s major projects were undertaken in Pipavav.
The firm has movable and immovable assets worth around Rs 600-700 crore. The ED recovered the jewellery from 10 lockers in two banks. A few more lockers are yet to be opened, as per sources.
Earlier, ED had attached several assets of the accused persons and searches have also been conducted in the alleged loan-fraud case in 2019.
The Gujarat Connection
Promoted by Nikhil and Bhavesh Gandhi, SKIL is an infrastructure development Company working on seaport and logistics, railway, defence shipbuilding and offshore asset construction yard. SKIL in 1991, joined hands with the Government of Gujarat to develop the Port of Pipavav into a modern all weather deep water direct berthing seaport on the coast of Gujarat. Skil earlier partnered with Ministry of Railways by undertaking a railway project comprising of 286 kms of rail line connecting port of Pipavav to nearest broad guage station i.e. Surendranagar under Public Private Partnership (PPP) Model.
SKIL and it’s then SPV, GPPL built a 20 km Four Lane Expressway to connect the Port of Pipavav to the National Highway.
Who is Nikhil Gandhi?
The chairman of SKIL, Nikhil Gandhi is a first generation entrepreneur. He has been in the industry for over 35 years. He had taken loans from IL&FS Financial (IFIN), which turned into a non-performing asset (NPA) later. Nikhil Gandhi has around 15% stake in Navi Mumbai Special Economic Zone (SEZ).
In the past, he has held the position of: Chairman in Federation of Indian Chamber of Commerce and Industry (FICCI) Forum on Ports, Shipping and Special Economic Zones. He was also a member of Confederation of Indian Industry (CII) National Committee on Surface Transport & Infrastructure.
Bhavesh Gandhi, Vice Chairman and Whole Time Director
Dr. J. Alexander, Director (Independent)
Gayathri Ramachandran, Director (Independent)
