The Directorate of Enforcement (ED) in Guwahati has attached immovable properties valued at approximately Rs 53.28 crore to a money laundering case involving former Assam IPS officer (promotee) Prasanta Kumar Dutta, his family and group companies.
In a statement, the Enforcement Directorate said the investigation against Dutta, who retired as Deputy Inspector General of Police in 2019, was initiated based on an FIR registered by the Vigilance and Anti-Corruption Branch of Assam Police. The FIR alleges that Dutta amassed assets grossly disproportionate to his known sources of income during his service period from 1992 to 2019. Dutta and his wife were found to possess assets worth Rs 77.21 crore, despite a disclosed income of about Rs 7.23 crore and disclosed expenditure of about Rs 9.04 crore.
The agency reasonably assessed the net disproportionate assets at approximately Rs 79.01 crore based on the material available on record.
The statement revealed that investigations under the Prevention of Money Laundering Act (PMLA) uncovered that the proceeds of crime were laundered and presented as untainted property through three closely held companies: M/s Mahamaya Estates Pvt. Ltd., M/s Ishan Commercial Pvt. Ltd., and M/s Murari Commodities Pvt. Ltd. These companies' registered offices were subsequently found to be non-existent.
The ED's investigation revealed the introduction of unexplained cash amounting to Rs 14,74,99,091 into the accounts of family members and companies. This cash was allegedly layered through fictitious shareholders, Kolkata-based shell entities and circular bank transfers before being integrated into hotel properties and residential flats in Mumbai.
The statement revealed that the individuals identified as shareholders of the three companies were largely found to be individuals lacking independent means, including fictitious or name-lending shareholders. They lacked a source of income commensurate with the share capital attributed to them and were unable to explain the source of the funds.
The ED further alleged that after his superannuation as DIG, Dutta had 3.7 lakh shares of M/s Ishan Commercial Pvt. Ltd. transferred from “dummy and fictitious name-lending shareholders” directly to his name. This made him the largest shareholder of the company, which owns three of the four hotels under scrutiny.
The Enforcement Directorate has provisionally attached four hotels and two residential flats in Guwahati and Andheri West, Mumbai. Further investigation is ongoing.
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