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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 Cri
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FAQ :
Rajesh Brijlal Batreja was arrested by the Directorate of Enforcement (ED) on 16.05.2024. Three other individuals, Tanaji Mandal Adhikari, Bhushan Patil, and Rajesh Shetty, were previously arrested in connection with the same fraud.
The fraud involves Income Tax refunds amounting to approximately £263.95 Crore (around £263 million).
Rajesh Batreja is accused of diverting £55.50 million of the proceeds of the crime outside India and round-tripping a portion of these funds back into two Indian entities as investments from Dubai. He allegedly assisted in converting the funds to cash and sending them abroad via hawala channels.
The ED has arrested Rajesh Batreja and previously arrested three others. They have also identified and seized/attached immovable and movable properties worth £168 Crore. A Prosecution Complaint has been filed against Tanaji Mandal Adhikari and 10 others.
Rajesh Batreja was produced before the Special Court (PMLA), Mumbai, and was remanded to ED custody until 22.05.2024.
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