Directorate of Enforcement (ED), Mumbai Zonal Office has arrested one Rajesh Brijlal Batreja on 16.05.2024 under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in case of Income Tax Refund fraud of Rs. 263 Crore. Rajesh Batreja was instrumental in diverting part of Proceeds of Crime (PoC) of Rs. 55.50 Crore to outside India and round tripping part of said POC in two entities in India under the guise of investment from Dubai.Earlier, three accused persons were arrested in this case including Tanaji Mandal Adhikari, Bhushan Patil and Rajesh Shetty who are presently in Judicial custody.
ED initiated investigation on the basis of FIR registered by CBI under various sections of IPC, 1860 and Prevention of Corruption Act, 1986 against Tanaji Mandal Adhikari and others for fraudulently generating and issuance of TDS refunds from Income Tax Department to the tune of Rs. 263.95 Crore.
ED investigation revealed that Rajesh Brijlal Batreja helped Tanaji Mandal Adhikari in diverting PoC of Rs. 55.50 Crore into 03 shell companies in order to convert the same into cash for sending it outside India by hawala channel. Subsequent to diversion of POC, Rajesh Brijlal Batreja also assisted Tanaji Mandal Adhikari in concealing the proceeds of crime and later in placement and layering of the said siphoned off POC by incorporating firms with the help of a local person in Dubai to project the same as untainted. Investigation also revealed that Rajesh Brijlal Batreja has further invested part of the said siphoned off PoC in the 02 Indian companies based in Mumbai and Gurugram under the guise of share investment by making cross border remittances.
Search operation was also conducted on 16.05.2024 at the office premise of said 02 Indian companies and digital devise was seized. Rajesh Brijlal Batreja was arrested for his involvement in dealing with proceeds of crime under the provisions of PMLA, 2002 on 16.05.2024 and was produced before the Hon’ble Special Court (PMLA), Mumbai on 17.05.2024. The Hon’ble Court was pleased to grant custody of the accused to the ED till 22.05.2024.
Earlier in this case, immovable/movable properties to the tune of Rs. 168 Crore have been identified and seized/attached so far. Prosecution Complaint has also been filed on 11.09.2023 against Tanaji Mandal Adhikari and 10 others, cognizance of which was also been taken by the Hon’ble Special (PMLA) Court.
Further investigation is under progress
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