Mumbai ED Seizes Assets Worth Rs 14.02 Crore in Income Tax Refund Fraud Case
The Enforcement Directorate (ED) in Mumbai has provisionally attached assets worth Rs 14.02 crore from five individuals under the Prevention of Money Laundering Act, 2002 (PMLA). This action is part of an investigation into a Rs 263 crore Income Tax Refund fraud.
Details of Attached Assets
The attached assets include:
- One flat in Mumbai belonging to Purushottam Chavan
- Land parcels in Lonavala and Khandala owned by Rajesh Batreja
- Bank balance in Anirudh Gandhi’s company account
- Insurance policies of Rajesh Shetty and Bhushan Anant Patil
- Fixed deposits totaling Rs 14.02 crore
Background of the Case
The investigation began based on an FIR registered by the CBI against Tanaji Mandal Adhikari and others for fraudulently generating TDS refunds from the Income Tax Department amounting to Rs 263.95 crore. The ED found that Rajesh Batreja helped divert Rs 55.50 crore outside India with Anirudh Gandhi’s assistance. The proceeds of crime were concealed and partially invested in Indian companies in Mumbai and Gurugram.
Current Status
All five accused, including Tanaji Mandal Adhikari, Bhushan Anant Patil, Rajesh Shantaram Shetty, Rajesh Batreja, and Purushottam Chavan, are in judicial custody. A prosecution complaint was filed on September 11, 2023, against Tanaji Mandal Adhikari and 10 others, which has been acknowledged by the Special (PMLA) Court. The total value of seized or attached properties in this case is around Rs 182 crore. Further investigation is ongoing.
