Chandigarh: The investigations by the Special Investigation Team (SIT) probing the case registered in Punjab state crime and the vigilance bureau (VB) has revealed massive laundering of drug money facilitated by Bikram Majithia, according to an official statement.
Stating that the preliminary investigations reveal that more than Rs 540 crore of drug money has been laundered through several ways, a VB spokesperson said on Wednesday that it includes huge unaccounted cash worth Rs 161 crore deposited in bank accounts of companies controlled by Majithia, channelization of Rs 141 crores through suspected foreign entities, excess deposition of Rs 236 crore without disclosure/explanation in company financial statements, and
Acquisition of movable/immovable assets without any legitimate source of income.
The spokesperson said that these transactions are being investigated by the VB and the investigations done by the SIT clearly indicate that these funds were laundered drug money funneled into Saraya Industries facilitated by Majithia.
The spokesperson added that so far, Rs 540 crore drug money has been tracked as having been generated illegally and by using the influence of Majithia as a public servant being an MLA and holding a Cabinet post in erstwhile Punjab government.
The spokesperson further held that that assets, including both immovable/movable in the name of Bikram Majithia and his wife Genieve Kaur have increased substantially for which no legitimate source of income has been provided.
