The Enforcement Directorate (ED) has attached 32 immovable and movable properties in Maharashtra and Karnataka worth over Rs 69,65 crore under the Prevention of Money Laundering (PMLA) in a case relating to fraudulent issuance of TDS refund of Rs 263 crore from Income Tax Department by Tanaji Mandal Adhikari, Senior Tax Assistant and others.
These attached assets include land, flats, luxury cars which are held in the name of Bhushan Anant Patil, Rajesh Shetty, Sarika Shetty, Kriti Verma and others. Earlier, the agency had issued freezing orders under PMLA in respect of 33 bank accounts of various entities having balances of Rs 96.23 crore and seized cash of Rs 2.85 lakh.
The ED has initiated investigations under the PMLA based upon an FIR registered by CBI on the basis of written complaint of Additional Director General (Vigilance)-4 CBDT about bogus issuance of refunds for assessment Years 2007-08 and 2008-09.
Tanaji Mandal Adhikari, while working as a Senior Tax Assistant, had access to RSA Tokens and login credentials of his supervisory authorities and he had allegedly orchestrated the fraud in connivance with others in fraudulently generatingTDS refunds exceeding Rs 263 crore and transferred in various bank accounts including the bank account of SB Enterprises (a proprietary concern of Bhushan Anant Patil).
CBI has filed charge sheet against Tanaji Mandal Adhikari, Bhushan Anant Patil, Rajesh Shantaram Shetty and others for committing offences under the Indian Penal Code (IPC), Prevention of Corruption Act and Section 66 of Information Technology Act, the ED said in a statement. Investigation under PMLA revealed that, during the period from November 15, 2019 to November 4, 2020, as many as 12 fraudulent TDS refunds were generated by Tanaji Mandal Adhikari amounting Rs. 263,95,31,870 which were fraudulently credited in the account of SB Enterprises, it said.
These Proceeds of Crime (PoC) were subsequently transferred into the bank accounts of Bhushan Anant Patil and other related persons and entities and also in shell companies.
PMLA probe revealed that immovable properties in the form of lands at Lonavala, Khandala, Karjat, Pune and Udupi areas, flats at Panvel and Mumbai areas and movable assets in the form three luxury cars ( BMW X7, Mercedes GLS400d, Audi Q7) have been acquired out of the proceeds of crime in their names and in the names of other related persons. On identification of these assets, a Provisional Attachment Order under PMLA was issued attaching 32 assets worth Rs 69,65,99,720, it said.
Out of total Proceeds of Crime of Rs 263 crore, assets of Rs 166 crore have been seized attached provisionally, it added.
