NEW DELHI: Punjab Vigilance Bureau on Monday in a statement said the SIT investigation has found that Shiromani Akali Dal (SAD) leader Bikram Singh Majitha was allegedly involved in laundering Rs 540 crore "drug money".
According to preliminary findings, over Rs 540 crore in illicit funds were laundered through various channels, including Rs 161 crore in unaccounted cash deposits into bank accounts of companies controlled by Majithia, Rs 141 crore routed through suspected foreign entities, and Rs 236 crore in unexplained deposits that do not reflect in official financial statements.
The SIT also found evidence of property and asset acquisitions made without any disclosed or legitimate source of income.
"Preliminary investigations reveal that more than Rs. 540 crores of drug money has been laundered through several ways, including huge unaccounted cash worth Rs 161 crores deposited in bank accounts of companies controlled by Bikram Singh Majithia, channelisation of Rs 141 crores through suspected foreign entities, excess deposition of Rs 236 crores without disclosure/explanation in company financial statements, and acquisition of movable/immovable assets by Bikram Singh Majithia without any legitimate source of income," Vigilance Bureau Punjab said, according to news agency ANI.
Earlier in the day, a Vigilance Bureau team carried out an unannounced search at the house of Majithia in Amritsar before arresting him.
Tension escalated when Ganieve Kaur, Majithia’s wife and a sitting MLA, confronted the officials, accusing them of forcibly entering the premises.
“These people have barged into our home,” she told reporters briefly outside the residence.
Sources suggested to TOI that when Ganieve Kaur entered a room where her husband was seated along with the officials, the door was reportedly closed behind them. However, what transpired inside remains unclear.
According to preliminary findings, over Rs 540 crore in illicit funds were laundered through various channels, including Rs 161 crore in unaccounted cash deposits into bank accounts of companies controlled by Majithia, Rs 141 crore routed through suspected foreign entities, and Rs 236 crore in unexplained deposits that do not reflect in official financial statements.
The SIT also found evidence of property and asset acquisitions made without any disclosed or legitimate source of income.
"Preliminary investigations reveal that more than Rs. 540 crores of drug money has been laundered through several ways, including huge unaccounted cash worth Rs 161 crores deposited in bank accounts of companies controlled by Bikram Singh Majithia, channelisation of Rs 141 crores through suspected foreign entities, excess deposition of Rs 236 crores without disclosure/explanation in company financial statements, and acquisition of movable/immovable assets by Bikram Singh Majithia without any legitimate source of income," Vigilance Bureau Punjab said, according to news agency ANI.
Earlier in the day, a Vigilance Bureau team carried out an unannounced search at the house of Majithia in Amritsar before arresting him.
Tension escalated when Ganieve Kaur, Majithia’s wife and a sitting MLA, confronted the officials, accusing them of forcibly entering the premises.
“These people have barged into our home,” she told reporters briefly outside the residence.
Sources suggested to TOI that when Ganieve Kaur entered a room where her husband was seated along with the officials, the door was reportedly closed behind them. However, what transpired inside remains unclear.
You may also like
Pulkit Samrat relishes 'pahado wali Maggi' during the Manali schedule of Rahu Ketu
Keir Starmer gives dire verdict on threats UK faces as Brits urged to 'prepare for war'
Parenting: Summer holidays are about to end, so make these preparations before sending children to school..
Raymond Realty appoints four new independent directors
Shark Tank India's Namita Thapar shares her thoughts on Aamir Khan's Sitaare Zameen Par. Said, 'I often feel judged, but these kids…'
