ED identifies 12 assets of arms dealer based in UK
New Delhi, July 9 -- The Enforcement Directorate (ED) has identified 12 properties of arms dealer Sanjay Bhandari in Delhi, two each worth several million dollars in the UK and the UAE , and bank deposits, jewellery and cash running into crores, which can be confiscated because he was declared a fugitive economic offender last week, people familiar with the development said.
The properties traced for confiscation are located in South City-1 and DLF Phase 1 in Gurugram, Jaypee Greens in Noida, Shahpur Jat, Hauz Khas, Vasant Vihar, Panchsheel Park (four properties), and Greater Kailash (two properties) in Delhi.
An ED officer who didn't want to be named said "the total value of these 12 properties is listed around Rs.31 crore but actual market value would be much higher as some of them were obtained or registered in the early 2000s in the name of his family members or companies".
The two properties in London are 12, Bryanston Square, which is also linked to Congress leader Sonia Gandhi's son-in-law Robert Vadra, and Flat number 6, Grosvenor Hill Court, 13 Bourdon Street.
ED has previously claimed that Bryanston Square property, purchased in 2009 for 1.9 million pounds, was linked to Vadra as it was renovated on his directions and using his funds. It alleged that Vadra even stayed there "three-four times". The officer cited above said "this property has been sold by Bhandari, a sale he didn't disclose to the Income Tax department".
Bhandari's two properties in the UAE are at Palm Jumeirah and Burj Khalifa. "The exact valuation of the four London and Dubai properties is yet to be done but they must be worth several million dollars," said a second ED officer. In UAE, ED has also identified six companies linked to Bhandari, including Santech International FZC and Offset India Solutions FZC.
A Delhi court on July 5 declared Bhandari as an 'economic fugitive' under the fugitive economic offender Act, 2018, which allows ED to confiscate properties anywhere in the world without conviction.
Officials said a list of these 16 properties (12 in India and 4 in London and Dubai) has been submitted before the court for issuance of confiscation orders.
Apart from immovable properties, ED has also identified bank deposits in India totalling Rs.54.64 lakh, and 19 bank accounts in the UAE, for which requests seeking information would be sent through formal channels; and jewellery and cash totalling Rs.5.81 crore.
The cash and jewellery was seized by the Income Tax department during raids at various premises linked to Bhandari in April 2016....
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