ED initiated Money Laundering Investigation on the basis of seizure of 7.8 Metric Ton of Red Sanders worth Rs 3.12 Crore by the Directorate of revenue Intelligence (DRI). The said consignment was being exported on the basis of forged documents in the names of companies at SEZ and had been mis-declared as Fabric Glue/Radiators/Assorted Colors.
Investigation by DRI brought out that Badshah Majid Malik was the kingpin of the smuggling syndicate and that the syndicate had already smuggled 17 more consignments of Red Sanders worth Rs. 48 Crore out of India in this manner.
Red Sanders have been listed in Appendix II of the CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora) and export of Red Sanders from India is restricted as per Foreign Trade Policy.
During the Money Laundering Investigation by ED, search operation at 8 different locations in Mumbai and suburbs including the residence of Badshah Majid Malik was carried out on 20.12.2021. During the searches various incriminating documents were seized. Subsequent to the search, Badshsh Majid Malik was summoned to the office of Enforcement Directorate.
During the recording of statement Badshsh Majid Malik had been non-cooperative, evasive and did not divulge any relevant information. Therefore he was placed under arrest on 21.12.2021. On the same day he was produced before the Special Court at Mumbai and remanded to ED custody till 24.12.2021.
Further investigation is under progress.
