Follow Us:
Thursday, June 30, 2022

Enforcement Directorate attaches 2 properties of Pradip Sharma

Earlier in 2014, Sharma’s properties worth Rs 28 lakh were attached in connection with the same case.

By: Express News Service | Ahmedabad |
September 27, 2016 12:55:46 am

The Enforcement Directorate (ED) on Monday has attached two more properties of IAS officer Pradip Sharma, who is currently jail in connection with a money laundering case. ED Officials on Monday said they have attached the Gandhinagar house of Sharma and a piece of land in Dehgam taluka of Gandhinagar district.

While the house in Sector 1, Gandhinagar, is worth around Rs 72.82 lakh, the value of the 4,856 sqm plot is estimated to be Rs 21.85 lakh, the ED said in a release. So far, the directorate has attached properties worth Rs 1.22 crore of Sharma.

Earlier in 2014, Sharma’s properties worth Rs 28 lakh were attached in connection with the same case. Sharma was arrested by ED officials on July 31 this year and he is currently in judicial custody. The ED lodged the case against Sharma under the Prevention of Money Laundering Act, 2002, alleging that as district collector Bhuj he abused power and allotted land to private firm Welspun at a lower rate, causing loss to the exchequer.

The release stated that Sharma allegedly transferred huge amounts outside the country “which are to be the Proceeds of Crime received/collected by him against his acts of omission and commission of the offences specified as schedule offences, any property of the equivalent value held by him within the country is liable to be considered as ‘Proceeds of Crime’ and consequently liable to be attached in terms of Section 5 (1) of the PMLA, 2002. Therefore the following properties are attached vide PAO No. 01/2016 dated26.09.2016”.

Subscriber Only Stories
Skin Allergies In Children – What parents need to know?Premium
What makes KuCoin P2P Trading Platform a Good Choice To Buy Crypto?Premium
Airtel Demonstrates Immersive Video Entertainment On 5G; Recreates Kapil ...Premium
Is It A Good Idea To Keep One Account For All Your Financial Transactions?Premium

Hot Offer Putin claims victory in Mariupol, leaving Ukrainian defenders holed up Subscribe Now
Start your day the best way
with the Express Morning Briefing

📣 Join our Telegram channel ( The Indian Express ) for the latest news and updates

For all the latest Ahmedabad News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard

Featured Stories

Latest Comment
Post Comment
Read Comments
Advertisement
X