The Enforcement Directorate (ED), Mumbai Zonal Office, arrested Rajesh Brijlal Batreja on May 16, 2024, under the Prevention of Money Laundering Act (PMLA), 2002. Batreja is implicated in a massive Income Tax refund fraud amounting to Rs. 263 Crore.
Rajesh Brijlal Batreja played a key role in diverting Rs. 55.50 Crore of the fraud proceeds outside India, utilizing hawala channels and shell companies to obscure the origins of the money. He further facilitated the round-tripping of these funds back into two Indian entities under the guise of investments from Dubai.
This arrest follows the earlier detention of three other accused in the case: Tanaji Mandal Adhikari, Bhushan Patil, and Rajesh Shetty, who are currently in judicial custody. The ED initiated its investigation based on a CBI FIR citing multiple sections of the IPC, 1860, and the Prevention of Corruption Act, 1986, against Adhikari and others for fraudulent TDS refunds totaling Rs. 263.95 Crore.
Investigations revealed Batreja’s involvement in channeling PoC through three shell companies to convert it into cash, which was then sent abroad. He further aided in concealing the proceeds and reintroducing them into the Indian financial system through firms in Dubai, falsely presenting the funds as legitimate investments.
A search operation conducted on May 16, 2024, at the premises of two implicated Indian companies, led to the seizure of digital devices. Rajesh Brijlal Batreja was subsequently produced before the Hon’ble Special Court (PMLA) in Mumbai, which granted ED custody until May 22, 2024.
In this extensive case, immovable and movable properties worth Rs. 168 Crore have already been identified and seized. A prosecution complaint was filed against Tanaji Mandal Adhikari and ten others on September 11, 2023, which the Hon’ble Special (PMLA) Court has acknowledged.
The ED’s action underscores the ongoing efforts to combat money laundering and financial fraud, highlighting the significant legal consequences for those involved in such activities.
