Mumbai: The Enforcement Directorate (ED) recovered and seized property documents worth approximately Rs 150 crore. These documents, registered in the names of multiple individuals, also included documents of Transferable Development Rights (TDR) for land parcels in Mumbai and Pune found during the search operation which was conducted at the premises of a senior IPS officer, prior to the arrest of her husband, Purshottam Chavan, in the Rs 263 crore Income Tax TDS refund fraud case.
The search was conducted on 19th May at the IPS officer’s residential premises provided by the government accommodation in Colaba.
During the search, officials found documents for around fourteen flats located in Mumbai and Thane, including two large flats measuring 3000 and 1600 sq ft in Worli. Apart from the property documents, documents for Transferable Development Rights (TDR) for Mumbai and Pune were also recovered. The property documents are registered in the names of multiple persons, but it is suspected that these could be benami assets created in the names of these individuals.
Sources revealed that the ED is examining the property and TDR documents to uncover why these records, pertaining to the TDR and 14 assets registered under different names, were in Chavan's possession. The investigation aims to ascertain the true ownership of these assets and their potential links to the TDS fraud case, which will guide the ED in determining their next course of action.
Role Of Senior IPS Officer Not Found In Scam
According to sources, no role of the senior IPS officer in the scam has been found as of now. Maharashtra cadre IPS officer, presently undergoing treatment for a severe illness. her husband Purshottam was involved in share market trading and allegedly participated in hawala transactions with businessman Rajesh Brijlal Batreja, who was also arrested in connection with the Income Tax TDS refund fraud case.
Purshottam Chavan is allegedly accused of possession, concealment, and diversion of the proceeds of crime. He was arrested by the agency after his name came up following the arrest of Rajesh Batreja, who was nabbed by the ED last week.
Apart from Batreja and Chavan, the agency previously arrested three persons in the case — former I-T official Tanaji Adhikari and businessmen Bhushan Patil and Rajesh Shetty.
Batreja, has been identified as a close associate of the main accused, former I-T official Tanaji Adhikari. They allegedly diverted Rs 55.4 crore of crime proceeds abroad. The ED investigation revealed that Batreja and Chavan were involved in money laundering and fund diversion. Batreja assisted Adhikari in concealing the proceeds and later facilitated the placement and layering of the funds by establishing firms in Dubai to make the money appear legitimate. Additionally, Batreja invested some of the funds in two Indian companies based in Mumbai and Gurugram under the guise of share investments through cross-border remittance.
