Special court takes cognizance of complaint against Sanjay Bhandari and others under PMLA

New Delhi: A Special Court has taken cognizance of prosecution complaint against Sanjay Bhandari and other co-conspirators in connection with a money-laundering case. 

The Special CBI Judge, Rouse Avenue Court, on Thursday (October 15) also issued summons to the accused persons and directed the ED to expedite the process of extradition against Sanjay Bhandari pending before UK Authorities so that he can be brought to India for trial in accordance with law. 

The Special Judge has also permitted the Enforcement Directorate to carry out further investigation in this case. 

The Enforcement Directorate (ED) had filed the prosecution complaint under section 44 and 45 of Prevention of Money Laundering Act, 2002 (PMLA) on June 1, 2020 against Sanjay Bhandari and other co-conspirators, including various companies floated by Sanjay Bhandari in overseas jurisdiction, for the offence of money laundering under section 3 of PMLA punishable under section 4 of PMLA.

The complaint under Section 51(1) of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Act, 2015 [Black Money Act] was filed against accused Sanjay Bhandari before Ld. ACMM by Income Tax authorities in pursuance of proceedings initiated against him by the Income Tax Department under the provisions of Black Money Act. 

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The complaint revealed that Sanjay Bhandari stashed black money abroad with the assistance of his accomplices to evade taxes causing huge financial loss to the national exchequer. 

Since the offence under Section 51 of the Black Money Act is a scheduled offence under PMLA, the ED probe the matter and during the course of investigation, it was revealed that Sanjay Bhandari incorporated various entities in UAE as owner / beneficial owner and also had financial interest in entity incorporated in Panama. 

The probe also revealed that all those foreign assets and entities were not disclosed by Sanjay Bhandari to Income Tax authorities in India.

The ED had mentioned about specific charges of alleged possession of undisclosed properties by Sanjay Bhandari in foreign countries. This also includes his links to a flat in London, in which the agency had questioned Robert Vadra, the son-in-law of Congress president Sonia Gandhi and husband of Priyanka Gandhi Vadra.

Robert Vadra had denied any wrongdoing, and his legal firm had also denied that he owned the London property directly or indirectly.