Ask Jurishour AI

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
tdb_templates
saswp_reviews
saswp-collections
saswp_rvs_location
tdc-review-email
web-story-font
web-story
googlesitekit_email
tds_locker
tds_email
saswp
mailpoet_page
mailpoet_email
tdcpt_tunes
tdc-review
pronamic_payment
pronamic_gateway
pronamic_pay_subscr
wpcode
HomeCompany & PMLAIllegal Sand Mining: ED Provisionally Attach Immovable Properties Worth Rs. 93.84 Crore...

Illegal Sand Mining: ED Provisionally Attach Immovable Properties Worth Rs. 93.84 Crore Acquired Under PMLA

Published on

🚀 Stay Connected With JurisHour

WhatsApp X Telegram

The Enforcement Directorate (ED) has attached immovable properties worth Rs. 93.84 crore acquired under Prevention of Money Laundering (PMLA).

Directorate of Enforcement(ED), Patna Zonal Office has arrested Punj Kumar Singh, ex Director and syndicate member of M/s Broadson Commodities Pvt. Ltd. on 19.09.2024 for offences of Money Laundering related to illegal sand mining under the provisions of Prevention of Money Laundering Act (PMLA), 2002.

Illegal Sand Mining

ED initiated investigation on the basis of 20 FIRs registered by Bihar Police under various sections of IPC, 1860 and Bihar Mineral (Concession, Prevention of Illegal Mining, Transportation & Storage) Rule, 2019 against M/s Broadson Commodities Pvt. Ltd. and others. It is alleged that M/s Broadson Commodities Pvt. Ltd. has been involved in illegal sand mining and selling of sand without using the departmental Pre-paid transportation E-Challan, issued by the Mining Authority, Bihar and has caused huge revenue loss to the extent of Rs. 210.68 Crore to the Government Exchequer.

ED investigation revealed that the illegal sale of sand and its mining was mainly controlled by a syndicate. Punj Kumar Singh, being syndicate member, generated huge Proceeds of Crime (POC) through M/s Broadson Commodities Pvt. Ltd. by illegal sale of sand and was also involved in layering and laundering of the proceeds.

Read More: CHARTERED ACCOUNTANT OF A COMPANY CAN’T COMPELLED TO BE SUMMONED AS A WITNESS IN RECOVERY SUIT: DELHI HIGH COURT

Earlier in this case, residential premises of Punj Kumar Singh were searched by ED in the month of March. Punj Kumar Singh was evading ED’s summonses and was not joining investigation since then.

It is pertinent to mention here that till now 9 persons including syndicate members, Directors of M/s Broadson Commodities Pvt. Ltd. and their associates have been arrested by ED in this case. ED has also provisionally attached 7 immovable properties to the extent of Rs. 93.84 Crore acquired by syndicate members under the PMLA, 2002.

Further investigation is under progress.

Read Press Release

Amit Sharma
Amit Sharma
Amit Sharma is the Content Editor at JurisHour. He has been writing about the Indian legal market. He has covered tax & company litigation stories from the Supreme Court, High Courts and Various Tribunals. Amit graduated from MLSU Law College with B.A.LL.B. and also holds an LL.M. from MLSU, Udaipur, Rajasthan. An Advocate in Taxation, and practised in Tribunals as well as Rajasthan High Court and pursued Masters in Constitutional Law. He started out small with little resources but a big plan to take tax legal education to the remotest locations across India and eventually to the world. His vision is to make tax related legal developments accessible to the masses.

Latest articles

DGGI Gawahati | GST Bank Account Attachment Automatically Lapses After 1 Year: Gauhati High Court

The Gauhati High Court has held that provisional attachment of bank accounts under Section...

S. 74 GST Can’t Be Invoked to Question CENVAT Credit Availed Under Pre-GST Regime: Punjab & Haryana High Court

The Punjab and Haryana High Court has held that GST authorities cannot invoke Section...

Service Tax Order Passed 8.5 Years After SCN Quashed: Meghalaya High Court

The Meghalaya High Court has quashed a service tax adjudication order against the Assam...

DRI Busts International Gold-Smuggling Syndicate Operated By Chinese National

The Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, has busted an international gold-smuggling...

More like this

DGGI Gawahati | GST Bank Account Attachment Automatically Lapses After 1 Year: Gauhati High Court

The Gauhati High Court has held that provisional attachment of bank accounts under Section...

S. 74 GST Can’t Be Invoked to Question CENVAT Credit Availed Under Pre-GST Regime: Punjab & Haryana High Court

The Punjab and Haryana High Court has held that GST authorities cannot invoke Section...

Service Tax Order Passed 8.5 Years After SCN Quashed: Meghalaya High Court

The Meghalaya High Court has quashed a service tax adjudication order against the Assam...