ED chargesheets businessman Paras Mal Lodha in money laundering case

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New Delhi | Updated: February 17, 2017 7:23:43 PM

The Enforcement Directorate chargesheeted Kolkata-based businessman Paras Mal Lodha today in connection with the alleged conversion of Rs 25 crore old currency into new ones.

Having recovered approximately Rs 13.65 crore from his law firm , Delhi lawyer Rohit Tandon was summoned by the Enforcement Directorate. Having recovered approximately Rs 13.65 crore from his law firm , Delhi lawyer Rohit Tandon was summoned by the Enforcement Directorate.

The Enforcement Directorate chargesheeted Kolkata-based businessman Paras Mal Lodha today in connection with the alleged conversion of Rs 25 crore old currency into new ones. The charge sheet was filed by the agency before Additional Sessions Judge Raj Kumar Tripathi under the provisions of the Prevention of Money Laundering Act (PMLA) giving details of alleged role of Lodha and others involved in the case.

Even as though lawyer Rohit Tandon has not been chargesheeted in this matter, his role has been defined in the chargesheet. A decision will be taken to file supplementary charge sheet after more investigation.

The case has been fixed for hearing arguments of Special Public Prosecutor Vikas Garg, whorepresents the probing agency, on the point of taking cognisance on the charge sheet.
The report gives details of how the accused persons cheated the public and caused huge loss to the central government.

While Lodha was arrested on December 21 last year in connection with alleged conversion of over Rs 25 crore old currency into new ones, Tandon continues to be in custody since December 28 in connection with a similar case.

The Kolkata-based businesman has been accused of being involved in the conspiracy along with Tandon and converting old demonetised notes into new currency on commission basis.

The ED had earlier told the court that Lodha was involved in money laundering which “frustrated” demonetisation policy of the government causing “serious threat” to financial health of the country.

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Tandon was nabbed by the agency after a raid in connection with a black money investigation which led to the alleged seizure of Rs 13.6 crore from his law company. He was accused to be involved in illegal conversion of nearly Rs 60 crore demonetised cash.

(With inputs from PTI)

 

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