ED attaches assets of arms dealer Bhandari

ED attaches assets of arms dealer Bhandari
The Enforcement Directorate (ED) on Thursday attached assets worth Rs 21 crore of controversial arms dealer Sanjay Bhandari and his wife in a money laundering case.
Bhandari sneaked out of the country last year.

The investigation by ED under Prevention of Money Laundering Act was initiated pursuant to a case of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, being registered by Income Tax authorities against Bhandari.

Bhandari was also charged by Delhi Police under Sections 3 and 5 of the Official Secrets Act (OSA) in October last year after Income Tax Department officials recovered confidential defence documents during a search of his premises earlier.

“This is the first case of issuance of attachment order where the scheduled offence is under Black Money Act. The provisions of PMLA allow for attachment of properties in India equivalent to the undisclosed assets outside India of a person accused of offences under The Black Money Act,” the ED said in a statement.

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