ED provisionally attaches six properties worth Rs 5.64 crore in money laundering case against former Assam Excise Secy

Guwahati: The Directorate of Enforcement (ED), Guwahati Zonal Office has provisionally attached six immovable properties amounting to Rs. 5.64 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

As per an official statement from ED, the properties were attached in connection with an investigation related to a disproportionate assets case against Indreswar Kalita, IAS, the then Secretary to the Government of Assam, Excise Department.

ED initiated investigation on the basis of an FIR registered by the Chief Minister’s Special Vigilance Cell (CMSVC), Guwahati against Indreswar Kalita under the Prevention of Corruption Act, 1988 for possession of assets disproportionate to his known sources of income.

The chargesheet filed by CMSVC disclosed that during the check period from March 1, 2000 to December 31, 2018, Kalita possessed assets disproportionate to his known sources of income to the tune of Rs 5.64 crore, constituting 131.12 per cent of his known income during the check period.

According to the Enforcement Directorate, investigation under PMLA revealed that Indreswar Kalita acquired several immovable properties either in his own name or in the names of his wife and other family members who did not have corresponding sources of income.

“This was done to obscure the true beneficial ownership and origin of funds. The said properties were purchased by deliberately understating the consideration amounts in registered sale deeds to conceal the actual cash deployment,” the ED said.

ED investigation further revealed that Indreswar Kalita constructed a G+4 commercial-cum-residential building through a sham partnership firm with his wife and a relative as partners during the period 2015-2018. The relative was described as a mere namesake partner bearing no financial risk or income. The building was constructed at an approximate cost of Rs 4.46 crore, thereby legitimising the Proceeds of Crime through the construction project.

“Post-construction, the said property has been generating substantial rental income every month, which has been utilised for repaying the bank loans, thereby integrating the laundered funds and the fruits thereof back into the legitimate economy,” the ED stated.

Further analysis of individual bank account statements revealed large cash deposits amounting to Rs 15,24,000 in the account of Indreswar Kalita during the period 2006 to 2018 and Rs. 16,92,000 in the account of his wife during the period 2012 to 2018.

According to the ED, these deposits were made during the service period of Indreswar Kalita and remain unexplained by any satisfactory or legitimate sources, indicating the utilisation and layering of the Proceeds of Crime.

Further investigation in the case is under progress, the agency added.

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