Lalit Goyal was stopped at the Indira Gandhi International (IGI) airport in New Delhi by immigration officials on the basis of an ED lookout circular against him.
The Enforcement Directorate (ED) today arrested Lalit Goyal, vice chairman and managing director of real estate group IREO, in connection with a money-laundering probe against him. The businessman is accused of allegedly diverting an estimated USD 77 million of home buyers’ funds, investments and shareholdings to some offshore entities. The ED had filed a money-laundering case against him in connection with the irregularities. Goyal and his company IREO have been facing a probe since 2010 in a case of violation of the Foreign Exchange Management Act (FEMA), media reports claimed.
Goyal’s sister is married to BJP leader Sudhanshu Mittal and his name has also surfaced in the ‘Pandora Papers’ global leak of offshore funds.
According to PTI, the businessman has been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) in Chandigarh and will be produced before a local court for seeking his remand.
Goyal was stopped at the Indira Gandhi International (IGI) airport in New Delhi by immigration officials on the basis of an ED lookout circular against him. According to the report, Goyal was supposed to take a flight to the US.
Goyal was questioned at the airport and detained by the agency following which he was being questioned in Chandigarh. Officials said as he was “evasive” while replying to the questions of the investigators, he was arrested.
The businessman had denied any illegalities on his part and said no funds were diverted abroad in violation of laws.