Smriti Irani’s family invested in firm whose 'GST address' is same as Silly Souls: Report

Even though the Delhi High Court on Monday said that Smriti Irani and her daughter Zoish Irani are not the owners of the land on which the Silly Souls Café and Bar in Goa stood, an investigative report has found financial links between the Iranis and the property.

Official records perused by the Indian Express allegedly show that the Iranis do have a link with the café-cum-bar albeit via financial transactions. As per the records, Smriti Irani’s husband Zubin Irani, daughter Zoish, son Zohr, and step-daughter Shanelle jointly own the companies Ugraya Mercantile Pvt Ltd and Ugraya Agro Farms Pvt Ltd.

Principal place of business

The report says that both the companies in 2020-21 invested in Eightall Food and Beverages LLP, a 2020-incorporated company which names ‘H No. 452, Ground Floor, Bouta Waddo, Assagao, North Goa, Goa’, as its “principal place of business” in GSTIN records. Incidentally, it is the same location as Silly Souls Café and Bar.

The IE report, quoting November 5, 2020 filings with the Registrar of Companies, said that Ugraya Mercantile and Ugraya Agro had pledged an investment of up to 50 per cent and 25 per cent respectively of the total capital of Eightall.

RoC data said that the shareholders in both the companies continued to hold their previous shares until March 31 – Zubin Irani holding 67 per cent and his three children holding 11 per cent each.

Smriti Irani is not a shareholder in either of the companies, the report stated.

Pledged capital

The RoC data also stated that Eightall, in its filings for year ending March 31, 2021, recorded having received the pledged capital from Ugraya Mercantile and Ugraya Agro. This apart, both the companies have given short-term loans of ₹20 lakh and ₹10 lakh to Eightall.

It is to be noted that the property on which the café and bar stands is owned by late Anthony D’Gama and his wife Merlyn D’Gama. A controversy had erupted when the liquor licence in Anthony’s name was renewed recently, even though he passed away in May 2021.

The café is now run by his Dean D’Gama, who refused to respond to any questions on the café-bar’s address coinciding with the GSTIN address of Eightall.

The Iranis as well as representatives from Eightall also refused to entertain any queries on the issue.

The IE report says that in the financial year ending March 31, 2021, Eightall recorded a revenue from sales amounting to ₹22.73 lakh and loss of ₹3.06 lakh.

Even though it was incorporated in December 2021, the company had reportedly paid a rent of ₹2,72,500 between January and March 2021, as per its financial records, and even had an alcohol inventory worth ₹3,35,500.