ED attaches Rs 32-cr highway resort under anti-money laundering cooperation with Dutch govt

An over Rs 32 crore worth highway resort in Punjab has been attached under the anti-money laundering law as part of a legal cooperation between India and Netherlands.

New Delhi:An over Rs 32 crore worth highway resort in Punjab has been attached under the anti-money laundering law as part of a legal cooperation between India and Netherlands, the Enforcement Directorate said on Monday.

The multi-acre 'Cabbana Resort and Spa' belongs to a person called Shivlal Pabbi and his associates. It is located on the national highway number 1 in Phagwara, Punjab. The total value of the resort is Rs 32.57 crore, it said.

The facility is a renowned venue for hosting luxury weddings, corporate events, among others, and is "managed by Shivlal Pabbi's cousins Anil Kumar Chodha and Manoj Kumar Chodha".

Pabbi was arrested by the ED in the past and all the accused have been chargesheeted by the agency before a special Prevention of Money Laundering Act (PMLA) court in Mohali in September.

"ED initiated money laundering investigation against Shivlal Pabbi and others on the basis of a request made by the Netherlands government."

"...Pabbi committed cheating and forgery in the Netherlands on the basis of fraudulent and forged documents prepared in connivance with his Indian associates," the agency said in a statement.

Pabbi, it alleged, ran an "underground" banking/banking without permit or hawala business in the Netherlands. "The proceeds of crime generated by Shivlal Pabbi were laundered through Pakistani individuals based in Dubai, who transferred the money to him and his family members' NRE accounts in Phagwara.

"The proceeds of crime were invested in the development and construction of Cabbana Resort & Spa," the ED claimed.

PTI