ED attaches property of Delhi bizman accused of money laundering
Dhawan was arrested by the ED on November 1 for his alleged role in facilitating the Sandesara Group in money laundering. The court has taken cognizance of the formal charges, filed in the form of a prosecution complaintdelhi Updated: Dec 24, 2017 21:33 IST
The Enforcement Directorate (ED) has filed formal charges against a Delhi businessman, Gagan Dhawan, and also attached assets worth ₹1.17 crore in a money laundering case involving the Gujarat-based Sandesara Group.
Dhawan was arrested by the ED on November 1 for his alleged role in facilitating the Sandesara Group in money laundering. The court has taken cognizance of the formal charges, filed in the form of a prosecution complaint.
Dhawan once used to be a frequent visitor to the residence of former CBI chief Ranjit Sinha, revealed from an entry register kept there.
The court has taken cognizance of the formal charges, filed in the form of a prosecution complaint.
The ED said in a statement that it started probing the money laundering charges in the case following a CBI FIR against Nitin Sandesara and Chetan Sandesara, the directors and promoters of Sandesara Group of companies, and others for obtaining fraudulent loans from various public sector banks and subsequently diverting and misusing such loans for personal use.
Following investigations into the charges of alleged money laundering to the tune of ₹5,000 crore, the ED has provisionally attached a plot, worth ₹1.17 crore, owned by Gagan Dhawan in DLF Phase III, Gurgaon.
The ED investigation revealed that Gagan Dhawan purchased the plot after getting funds from PMT Machines Ltd, which is a Sandesara Group company. The money was allegedly sourced from the loan obtained from a bank.
“The said funds were routed to him by Chetan Sandesara through a benami company, Solpuri Furnishing Private Ltd, incorporated on the instructions of Chetan Sandesara and Gagan Dhawan. The modus operandi was to rotate the funds through several bank accounts of Sandesara Group Companies and then use the bank account of Solpuri Furnishing to layer the said funds, ultimately the same was used for purchasing a property in Gurgaon,” the ED in its statement alleged.
The ED added it is also probing money laundering in connection with allegations of bribing of Income-Tax officials by the Sandesara Group and the alleged role of Gagan Dhawan in it. The role of more than 300 benami entities controlled by the Sandesara Group is also under the ED scanner.