ED attaches assets in black money-linked case in Maharashtra

New Delhi, Jan 2 (PTI) The Enforcement Directorate on Thursday said it has attached assets worth more than Rs 8 crore as part of an alleged black money-linked money laundering case in Maharashtra.

A provisional 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-free bonds and land located in Pune and these are worth a total Rs 8.09 crore, the federal agency said in a statement.

The money laundering case stems from an Income Tax Department chargesheet filed 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, as per the ED, were the “beneficial owners” of a British Virgin Islands (BVI) registered entity named Blue Mist International Inc., with a bank account at Singapore.

The offshore company (Blue Mist International Inc.) had entered into a sale and purchase agreement with HKCL Investments Pte Ltd for purchase of a property at Singapore, as per the agency.

Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi held “undisclosed” foreign income and assets amounting to a total of Rs 8.09 crore, which are proceeds of crime in this case, it said.

As the proceeds of crime in this case are held outside the country, properties of an equivalent value in India amounting to Rs 8.09 crore owned by the two persons in the country were provisionally attached, as per the agency.