ED Files Charges Against Mumbai Businessmen in Black Money Case

The Enforcement Directorate has filed a prosecution complaint against Mumbai businessmen Sidharth Abhay Choksi and Abhay Sajanlal Choksi. They face charges of owning an offshore entity linked to undisclosed foreign income. The case highlights the agency's investigation into black money involving Blue Mist International Inc, based in the British Virgin Islands.

The Enforcement Directorate (ED) has escalated its probe into black money activities involving Mumbai-based businessmen Sidharth Abhay Choksi and Abhay Sajanlal Choksi by filing a prosecution complaint. The businessmen stand accused of being beneficial owners of Blue Mist International Inc, an offshore entity registered in the British Virgin Islands with a banking presence in Singapore, the agency disclosed on Saturday.

The complaint was lodged by the Mumbai-edition of the ED on March 13 before a special court focused on the Prevention of Money Laundering Act (PMLA). This legal action follows complaints submitted by the Income Tax Department, alleging undisclosed foreign income and assets under the Black Money Act of 2015.

The ED's investigation has uncovered that the Choksi businessmen were involved in an international property transaction involving Blue Mist International Inc and a Singapore-based firm, HKCL Investments Pte Ltd. With assets worth Rs 8.09 crore identified as Proceeds of Crime, a provisional attachment order had been already issued, tightening the noose on the accused.

(With inputs from agencies.)