ED attaches properties worth Rs 32 crore belonging to Indian-origin Dutch national Shivlal Pabbi
Nov 01, 2021
New Delhi [India], November 1 : The Enforcement Directorate (ED) has attached Cabbana Resort and Spa's properties worth Rs 32.57 crore belonging to an Indian-origin Dutch national Shivlal Pabbi and his associates in a money laundering case, the agency said on Monday.
The property is situated on National Highway-1, (Phagwara-Jalandhar) in Punjab.
ED initiated a money-laundering investigation against Pabbi and others on the basis of a request made by the Netherlands government.
The money laundering investigation carried out by the ED has revealed that Pabbi committed cheating and forgery in the Netherlands on the basis of fraudulent and forged documents prepared in connivance with his Indian associates.
Pabbi ran underground banking, banking without permit and hawala business in the Netherlands, ED investigation reveals.
"The proceeds of crime generated by Shivlal Pabbi were laundered through Pakistani individuals based in Dubai, who transferred the money to the Dutch national and his family members' NRE accounts in Phagwara," ED said.
"The proceeds of crime were invested in the development and construction of Cabbana Resort and Spa which is spread over several acres and is a renowned venue for hosting luxurious weddings, and corporate events.
"The resort is being managed by Shivlal Pabbi's cousins. ED attaches properties of worth Rs 32 crore belonging to Indian-origin Dutch national Shivlal Pabbi and Manoj Kumar Chodha," said the federal agency.
Pabbi was arrested by the ED on July 17 while trying to flee the country.
A prosecution complaint against Pabbi, Anil Kumar Chodha, Manoj Kumar Chodha, Mukesh Sharma, Mayfair Resorts Pvt Ltd and Cabbana Infrastructure Pvt Ltd was filed by the ED before the Special Court Mohali on September 9 this year.
