ED attaches properties in two scheduled offences of Black Money
Apr 03, 2021
New Delhi [India], April 3 : The Enforcement Directorate (ED) on Saturday attached movable and immovable properties in two cases of the scheduled offence of Black Money and Imposition of Tax Act, 2015, including the cases of Sundru Bhagwandas Hiranandani and RP Mansinghka.
As per a statement, the ED attached properties worth Rs 3.27 crores in its ongoing investigation in the matter of Sundru Bhagwandas Hiranandani and others.
"Hiranandani had undisclosed assets originating from his offshore company incorporated in the British Virgin Islands. The company has bank accounts in Singapore with funds to the tune of Rs 3.27 crore," it added.
In the case of RP Mansinghka, during the money-laundering investigation, it was found that Mansinghka has "the beneficial interest/ownership in foreign assets/company/account and failed to disclose the same in his return of income filed before the Income Tax Authorities."
The ED had provisionally attached an amount of Rs 3 crore (approximately) as equivalent value of proceeds of crime pertaining Mansinghka.
Further investigation is in progress.
