The Enforcement Directorate (ED) on late Wednesday night arrested Delhi based lawyer Rohit Tandon in connection with a money laundering case registered against him after Prime Minister Narendra Modi’s demonetisation drive.
Tandon has allegedly converted crores of demonetised money into new currency notes with the help of hawala trader Paras Mal Lodha.
Tandon will be produced in Saket Court in New Delhi on Thursday.
Earlier, the ED on December 21 arrested Kolkata-based businessman Lodha, who allegedly helped the lawyer to convert his Rs 2.6 crore in old notes into new currency.
Acting on tip-off, the Income-Tax department on December 11 raided Tandon's office in Delhi's upscale Greater Kailash 1. Cash amounting to Rs 13.65 crore, including Rs 2.6 crore in new currency notes, was seized during the raid
Following the raid, the ED had summoned Rohit Tandon to appear before the agency and registered the money laundering case against him.
The lawyer had recently declared unaccounted income worth over Rs 125 crore after searches were carried out against him.
On December 23, Rohit Tandon appeared before the ED in connection with the case. The directorate recorded Tandon’s statement under the provisions of the Prevention of Money Laundering Act (PMLA).
After questioning him, an ED official informed media that Tandon had said that he can account for the money and some of it belongs to various clients.
Tandon's T&T law firm and residence, before this operation, was separately searched by the Income Tax department which said that he had declared undisclosed income worth over Rs 125 crore.
During the interrogation Rohit Tandon had revealed that Kotak Mahindra Bank Manager at KG Marg in New Delhi, Ashishh Kumar had received an amount of Rs 51 crore from him.
Late last night, ED had arrested the manager of the bank in connection with its money laundering probe in a case of detection of nine alleged fake accounts with deposits worth Rs 34 crore post demonetisation.
The bank in its statement said it has already “suspended the services” of Kumar.
“With reference to the ongoing investigation of the said accounts, Kotak Mahindra Bank had proactively informed Financial Intelligence Unit and the bank has already suspended the services of its employee Ashish Kumar.
“The bank has zero tolerance towards employees not adhering to its Code of Conduct, and takes strict measures against them,” Kotak Mahindra spokesperson Rohit Rao said.
The Enforcement Directorate took on the case and registered an FIR under PMLA laws after taking cognisance of Delhi Polices’ crime branch FIR in the said case. Police had also arrested two persons last week for allegedly depositing black money worth Rs 34 crore in nine fake accounts being operated in the Naya Bazar branch of the said bank.
