In a significant development, the Enforcement Directorate (ED) uncovered property documents worth approximately Rs 150 crores during a raid at the residence of a senior Maharashtra IPS officer. The search, which took place in Colaba, was conducted shortly before the arrest of her husband, Purshottam Chavan, in connection with a Rs 263 crores Income Tax refund fraud case.
During the raid, officials discovered documents pertaining to fourteen flats in Mumbai and Thane, including two large flats in Worli. They also unearthed Transferable Development Rights (TDR) documents for Mumbai and Pune. Sources indicate that the total value of these assets is around Rs 150 crores. The property documents are registered in multiple names, raising suspicions that these might be benami assets, held in others’ names to conceal ownership.
Chavan was arrested on May 20 under the Prevention of Money Laundering Act (PMLA), 2002. He is accused of aiding one of the main suspects, Rajesh Batra, in securing relief in the tax fraud case, allegedly receiving Rs 12 crores for his assistance.
This case has already seen the arrest of four other individuals: Tanaji Mandal Adhikari, Bhushan Patil, Rajesh Shetty, who are in judicial custody, and Rajesh Brijlal Batra, currently in ED custody. The investigation by the ED was initiated based on a CBI FIR filed in Delhi, which cited various sections of the Indian Penal Code and the Prevention of Corruption Act against Adhikari and others for fraudulently generating TDS (Tax Deducted at Source) refunds amounting to Rs 263.95 crores.
The probe revealed that Chavan and Batra were in regular contact and exchanged incriminating messages concerning hawala transactions and the diversion of illicit funds, referred to as Proceeds of Crime. In addition to the property documents, the ED also seized foreign currency and mobile phones. It was discovered that Chavan attempted to obstruct the investigation by destroying evidence.
Following his arrest, Chavan was presented before the Special PMLA Court in Mumbai, which has granted ED custody until May 27. Earlier in this case, the ED identified and seized or attached immovable and movable properties worth Rs 168 crores. A complaint was also filed in September 2023 against Adhikari and ten others.
The investigation is ongoing, with further developments expected as the ED continues to unravel the complexities of this high-profile financial fraud case.
