ED raids at Bhopal, Goa in Panama paper leaks | India News

BHOPAL: In a major action, Enforcement Directorate has conducted searches at four premises based at Bhopal (Madhya Pradesh) & Goa in a Money Laundering Case registered.
Action is being taken against Sanjay Vijay Shinde. His name had figured in the Panama Paper Leaks over maintaining offshore entities Shinde allegedly had beneficial interests in a British Virgin Islands based offshore entity, said sources.
It’s also alleged that more than Rs 31 cr were deposited in a Singapore based bank account by various offshore entities.
ED took cognisance of a complaint filed against Shinde under provisions of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 by Income Tax department and registered case provisions of Prevention of Money Laundering Act, 2002.
Searches were conducted at the four premises of Shinde including his residential premises at Goa & Bhopal. Premises of his former employer M/s VS Dempo Holdings Pvt Ltd, Goa and the premises of M/s RPM Sonic Adventures & M/s Caravan Resorts at Bhopal, MP were also raided.
Sources informed that cash amounting to near Rs 90 lakhs and various incriminating documents were seized. Investigations are underway.

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