New Delhi: The Enforcement Directorate (ED) has attached movable and immovable assets worth Rs 1.12 crore of a Surat-based bllion trader in money-laundering probe against him and others linked to demonetisation.
A 97.85-sq.mtr flat in the Gyandeep cooperative housing society and a 1,800 sq.feet shop in Gujarat”s diamond town of Surat, valued at Rs 94.12 lakh in total, and a fixed deposit of Rs 18 lakh of a firm — Shah Maganlal Gulabchand Choksi — have been provisionally attached under money laundering case.
The company is promoted by bullion trader Hemanshu R Shah. The total value of the attached properties is Rs 1.12 crore.
The ED, in a statement, said the case came to light after Shah, while operating the bank account of Nirav & Co. (held in the Surat People”s Cooperative Bank) deposited demonetised currency notes to the extent of Rs 36.17 crore in 2016.
“Accused Shah, in connivance with Maharshi Chokkas, used the photo and identity proof of one Nirav Rashmikant Shah of Ms Nirav & Co. and illegally utilised the bank account for depositing the demonetised notes to the extent of Rs 36.17 crore and channelised unaccounted black money into the banking system,” the ED said.
“Immediately after the deposits were made, an amount of Rs 34.82 crore was transferred to the account of his firm (Shah Maganlal Gulabchand Choksi),” the ED alleged.
Prime Minister Narendra Modi had announced demonetisation of the Rs 1,000 and Rs 500 currency notes on November 8, 2016.
