The Enforcement Directorate (ED) today filed a supplementary prosecution complaint against Surat-based Kishore Bhajiawala and his son Jignesh in a case related to demonetisation.
The supplementary prosecution complaint against the two, under section 45 of the Prevention of Money Laundering Act, was filed today before the PMLA court which has taken cognisance of it and issued bailable warrants against the accused, said an ED release.
The ED had initiated an investigation under PMLA against the two on the basis of an FIR filed by the Central Bureau of Investigation (CBI) last year.
Investigations had revealed that Jignesh Bhajiawala had converted Rs 1.02 crore of his unaccounted money into new currency through collusion with bank officials after demonetisation was announced in November, 2016, the release said.
The probe had also revealed that he had allegedly deposited demonetised currency, worth Rs 3.72 crore, in 67 bank accounts of his family members and other accounts held by relatives and employees of his firm without their knowledge or consent.
He was arrested on the charge of money laundering in January last year and a prosecution complaint was filed against him before the PMLA court here in March this year.
Disclaimer: No Business Standard Journalist was involved in creation of this content
