Enforcement Directorate [ED] Rs 88.30 lakh in cash has been seized after raiding the premises of a person, whose name is panama paper leakAs part of money laundering investigations against him in Madhya Pradesh and Goa.
The search was conducted against Sanjay Vijay Shinde, who “had beneficial interests in one”. British Virgin Islands’ based offshore entity and in whose Singapore bank account more than ₹ 31 crore were deposited by various offshore entities,” the central agency said.
“Mr. Shinde’s four premises in Bhopal and Goa, including his former employer VS Dempo Holdings Pvt Ltd in Goa and RPM Sonic Adventures and Caravan Resorts in Bhopal were raided earlier this week,” the ED statement said. Read.
It said 88.30 lakh cash and various “defamatory” documents were recovered from the premises.
The ED said the money laundering case stems from an Income Tax Department chargesheet filed against Mr Shinde earlier under the provisions of the Black Money Act (Black Money Undisclosed Foreign Income and Assets and Tax Act 2015).
dub ‘Panama Papers’check the repository of records from Panamanian law firm Mossack Fonseca Was nominated in 2016 by the Washington-based International Consortium of Investigative Journalists (ICIJ) Many world leaders and celebrities Who had allegedly deposited money in foreign companies abroad. Some of them are said to have valid foreign accounts.
There were a total of 426 cases related to India in the leaked installment.