The Enforcement Directorate (ED) has attached assets worth Rs 25.28 crore of Sanjay Agarwal, Radhika Agarwal and Preet Kumar Agarwal in a case involving smuggling of gold originally meant for export. The attached assets are in the form of residential villas and 54 kg gold.The ED initiated money laundering investigation on the basis of a case registered by the DRI, Kolkata, under the provisions of Customs Act, 1962 for smuggling of gold and diverting it in the domestic market.
The agency had carried out search operations at Hyderabad on March 9 and 19 this year and seized incriminating documents, which revealed acquisition of properties by the accused persons in the name of their associates.“During the investigation by ED, it was revealed that the gold procured duty-free from nominated agencies like MMTC and State Trading Corporation and meant for export used to be diverted in the domestic market by Sanjay Agarwal with the active connivance of his relatives and other associates,” the agency said in statement.Earlier, the agency had arrested Preet Kumar Agarwal in this case for his active role in the money laundering activities.
The Special Court (PMLA), Kolkata has issued non-bailable warrants (NBWs) against other accused persons Sanjay Agarwal, Radhika Agarwal, Ajay Kumar Agarwal and Avinash Soni. Further investigation is under progress, it added.