Black money case: ED files prosecution complaint against two Mumbai businessmen
Mar 22, 2025
New Delhi [India], March 22 : The Enforcement Directorate (ED) has filed a prosecution complaint in a case against Mumbai-based businessmen Sidharth Abhay Choksi and Abhay Sajanlal Choksi as part of an ongoing probe in a black money case against them, the agency said on Saturday.
The businessmen are accused of beneficial owners of an offshore entity, Blue Mist International Inc, registered in the British Virgin Islands having a bank account in Singapore.
Mumbai zonal office of the ED filed the prosecution complaint before a special Prevention of Money Laundering (PMLA) court in the city on March 13. The court took cognizance of the prosecution complaint on March 19 and issued a process against the accused persons.
ED initiated an investigation based on prosecution complaints filed by the Income Tax Department against Sidharth Abhay Choksi and Abhay Sajanlal Choksi before the Additional Metropolitan Magistrate, Mumbai under the provisions of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
In a statement, ED said its investigation revealed that both Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi were the beneficial owners of an offshore entity, Blue Mist International Inc, registered in the British Virgin Islands having a bank account in Singapore.
ED investigation further revealed that Blue Mist International Inc, BVI had entered into a sale and purchase agreement with HKCL Investments Pte Ltd for the purchase of a property in Singapore.
During the investigation, ED said, it was found that both Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi held undisclosed foreign income and assets amounting to a total of Rs 8.09 crore, which are Proceeds of Crime (POC) in this case.
Earlier, ED issued a provisional attachment order on January 1, 2025, for assets worth Rs 8.09 crore in this case.
