ED attaches Rs 21 cr worth assets of defence dealer Sanjay Bhandari

The Enforcement Directorate on Thursday said it had attached properties worth Rs 21 crore belonging to controversial arms dealer Sanjay Bhandari in Delhi over his involvement in a money laundering case.

This is the first attachment of assets by the probe agency under the Prevention of Money Laundering Act (PMLA).

The Enforcement Directorate said Bhandari has acquired assets worth over Rs 150 crore outside India, which he had not declared for taxation purposes before the Income Tax authorities.

The Income Tax department had registered a case against Bhandari under the Black Money Act, notified in 2016 to curb the stashing of unaccounted wealth and properties abroad by Indians.

The Enforcement Directorate said the assets, including commercial properties in Panchsheel Shopping Complex, Panchsheel Park, residential house in Vasant Vihar in south Delhi and another house in Gurugram, were registered in his name, his wife's name as well as the various companies he ran.

Some jewellery and bank deposits of Bhandari were also seized.

--IANS

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