Sanjay Vijay Shinde, his wife Aparna Shinde, and his offshore company Venus Bay Offshore Ltd have all been named in a chargesheet filed by the Directorate of Enforcement (ED) under the Prevention of Money Laundering Act (PMLA) before a PMLA court in Bhopal.
A network of accused financial irregularities was found by an ED investigation, which was conducted in response to a complaint made by the Income Tax Department under the Black Money (Undisclosed Foreign Income and Assets) And Imposition of Tax Act, 2015.
According to the agency, Sanjay Vijay Shinde allegedly established an offshore business called M/s Venus Bay Offshore Ltd. in the British Virgin Islands, which serve as a tax haven.
According to the ED, Shinde reportedly received Rs 21.87 crore into the bank accounts of this foreign firm held at UBS-AG Bank in Singapore. Shinde did not mention these transactions and asset interests in his I-T reports either.
The money was then invested in a variety of mobile and immovable properties. The purported acquisition of properties in Bhopal, Goa, Vadodara, and Mumbai was made with the proceeds of crime. Additionally, the money was put to use in mutual funds, stocks, fixed deposits, LIC policies, and companies. According to the ED’s investigation, Shinde made gains of Rs. 12.40 crore.
Along with 18 immovable properties connected to Shinde that are located in Bhopal, Goa, Vadodara, and Mumbai, the ED has also provisionally attached movable assets like mutual fund, stock, fixed deposit, and LIC policy investments, as well as cars totaling Rs 29.59 crore.
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