The Enforcement Directorate (ED) said on Friday that it has attached movable and immovable assets of Suresh Kumar Banthia and Jitesh Kumar Banthia to the tune of Rs 9.12 crore in the form of bank account balances, two residential flats and land located at different places in South 24-Parganas and Howrah districts under the provisions of Prevention of Money Laundering Act, 2002.
Earlier, the Income Tax Department had filed a chargesheet under Section 51 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act before the court of Chief Metropolitan Magistrate against Suresh Kumar Banthia and Jitesh Kumar Banthia for undisclosed credit in the bank account of an offshore company registered at BVI, of which they were beneficial owners.
Since Section 51 of the Act is a scheduled offence under Part C of the schedule to the PMLA, the ED also initiated investigation under PMLA.
Previously, assets worth of Rs 1,51,49,805 and cash amounting to Rs 10,20,000 were freezed under Section 17 of PMLA.
“The attached properties are equivalent in value held within the country, since the proceeds of crime are lying in the bank account held outside India. After this provisional attachment order, total value of assets seized/freezed/attached is Rs 10.74 crore,” the ED said.