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New Delhi, Jan 2 (PTI) The Enforcement Directorate on Thursday said it has seized assets worth over Rs 8 crore as part of an alleged black money-related money laundering case in Maharashtra.
An interim attachment order has been issued under the Prevention of Money Laundering Act (PMLA) against two persons, identified as Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi.
The attached properties include tax-exempt bonds and land located in Pune and these are worth a total of Rs 8.09 crore, the federal agency said in a statement.
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The money laundering case stems from a complaint filed by the Income Tax Department under the anti-black money law – The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi were the “beneficial owners” of a registered entity in the British Virgin Islands (BVI) called Blue Mist International Inc., with a bank account in Singapore, according to the ED.
According to the agency, the offshore company (Blue Mist International Inc.) had entered into a sale and purchase agreement with HKCL Investments Pte Ltd for the purchase of a property in Singapore.
Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi had “undisclosed” foreign income and assets worth a total of Rs 8.09 crore, which in this case are proceeds of crime, the report said.
According to the agency, as the proceeds of crime in this case are kept outside the country, property of equivalent value in India worth Rs 8.09 crore owned by the two persons in the country was provisionally attached. PTI NES Chamber of Commerce Chamber of Commerce
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