ED Attaches Rs 72.45 Crore Worth Properties of Red Sanders Smugglers Majid Malik, Poojary

The immovable properties worth Rs 72.45 crore belonging to the accused, red sanders smugglers Badshah Majid Malik, Vijay Subbanna Poojary and others were attached by the Enforcement Directorate. Malik was arrested in 2021 and was languishing in jail.

New Delhi:The Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 72.45 crore belonging to the accused, Badshah Majid Malik, Vijay Subbanna Poojary and others under the provisions of Prevention of Money Laundering Act (PMLA), 2002, in a case related to alleged money laundering. Taking to social media on X, the Enforcement Directorate wrote, “The ED in Mumbai has provisionally attached immovable properties worth Rs 72.45 crore belonging to the accused, Badshah Majid Malik, Vijay Subbanna Poojary and others under the provisions of PMLA, 2002.”

“The Enforcement Directorate initiated investigation based on a prosecution complaint filed by the Directorate of Revenue Intelligence (DRI) against Badshah Majid Malik, Vijay Subbanna Poojary and others for offences committed under various Sections of Customs Act, 1962, for alleged smuggling of red sanders in the guise of consignments of fabric glue, radiators and assorted colours by submitting forged documents of the companies situated at SEZs,” the ED claimed in a communiqué.

The ED’s investigation revealed that Malik was engaged in alleged smuggling activities from 2008 to 2010 and 2014 to 2015 and generated proceeds of acts worth Rs 94 crore. For the purposes of laundering the proceeds of the act, he established one company by the name of Empire India Multi Trade Pvt Ltd and infused share capital from multiple bogus shell companies instead of cash through accommodation entry. Thereafter, Malik and his associates purchased several immovable properties through this company, the federal probe agency claimed.

A search operation was conducted on December 20, 2021, under PMLA 2002 at the residences of Malik, Poojary and others. During the search operation, various incrimination documents were unearthed, which established the modus operandi used by Malik in the alleged smuggling of red sanders. Malik was arrested on December 21, 2021, and was languishing in jail. Further investigation is underway, the Enforcement Directorate said.