Another arrest made by ED Mumbai in Rs. 263 cr Income Tax Refund fraud

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Another arrest made by ED Mumbai in Rs. 263 cr Income Tax Refund fraud

May 22, 2024

TS24 / New Delhi

Directorate of Enforcement (ED), Mumbai Zonal Office has arrested one person namely Purshottam Chavan on May 20th 2024 under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in case of Income Tax Refund fraud of Rs. 263 Crore. Purshottam Chavan was involved in possession of part of Proceed of Crime (POC). Earlier, four accused persons were arrested in this case. Arrested persons, namely Tanaji Mandal Adhikari, Bhushan Patil and Rajesh Shetty who are in judicial custody and Rajesh Brijlal Batreja is in ED custody.

ED initiated investigation on the basis of FIR registered by CBI, Delhi under various sections of IPC, 1860 and Prevention of Corruption Act, 1988 against Tanaji Mandal Adhikari and others for fraudulently generating and issuing TDS refunds from Income Tax Department to the tune of Rs. 263.95 Crore.ED investigation revealed that Rajesh Brijlal Batreja and Purshottam Chavan were in touch regularly and shared incriminating messages related to hawala transactions and diversion of PoC.

Search operation was also conducted on May 19th 2024 at the residential premise of Purshottam Chavan in which number of property documents, foreign currency and mobile phones were recovered and seized. It was also found that Purshottam Chavan tried to hamper the investigation by destroying evidence which could further lead to tracing of PoC. Consequently, Purshottam Chavan was arrested for his involvement in dealing with PoC under the provisions of PMLA, 2002 on May 20th 2024 and was produced before the Special Court (PMLA), Mumbai on May 20th 2024. The Hon’ble Court has granted ED custody till May 27th 2024.

Earlier in this case, immovable/movable properties to the tune of Rs. 168 Crore have been identified and seized/attached so far. Prosecution Complaint has also been filed on September 11th 2023 against Tanaji Mandal Adhikari and 10 others, cognizance of which was also taken by the Special (PMLA) Court, further investigation is under progress.

Income Tax Refund Fraud ED Enforcement Directorate Purshottam Chavan Tanaji Mandal Adhikari Bhushan Patil Rajesh Shetty Rajesh Brijlal Batreja CBI Central Bureau Of Investigation Prevention Of Money Laundering Act PMLA

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