ED attaches property worth Rs 7.3 crore of Income Tax Official in disproportionate assets case

In accordance with the Prevention of Money Laundering Act (PMLA), 2002, Directorate of Enforcement (ED) has provisionally attached real estate valued at Rs.7.33 crore in connection with the disproportionate assets case brought against Shri Andasu Ravinder, Additional Director of Income Tax, who was forcibly retired from service by the Finance Ministry under Central Civil Services Conduct Rule 56 J.

On the basis of the FIR filed by the CBI, ACB Chennai against Sh. Andasu Ravinder, who together with his wife Smt. Kavitha Andasu, in concert with other accused persons, accumulated wealth in his name and in the name of his wife Smt. Kavitha Andasu between January 1, 2005, and August 29, 2011, that was disproportionate to their known sources of income and totaled Rs. 2,32,20,296/-, the ED The assets acquired by Shri Andasu Ravinder in his name, in the name of his wife, Smt. Kavitha Andasu, and in the name of M/s Sri Raviteja Trading Pvt. Ltd., Hyderabad during the Check Period were allegedly found to be disproportionate to known sources of income to the extent of Rs. 2,32,20,296/-, which was estimated to be 171.41% disproportionate to the combined income of Shri Andasu Ravinder

According to a criminal conspiracy, Shri Andasu Ravindar and others engaged in the criminal activity of accumulating wealth that was out of proportion to their known sources of income and the sources of Shri Andasu Ravinder’s and his wife’s income. A disproportionate sum of Rs. 2,32,20,296 was created and invested in five immovable properties between January 1, 2005, and August 29, 2011. Thus, pursuant to PAO dated 30.09.2022, the aforementioned immovable assets with a present market value of Rs. 7,33,81,701/- obtained from the proceeds of Crime specified under Section 2(1)(u) of PMLA were provisionally attached.

Earlier in the same case, under Section 8(3) of the PMLA, 2002, the Hon’ble Adjudicating Authority, New Delhi temporarily attached and later confirmed the illegal gratification of Rs. 50 lakhs that was allegedly delivered to Sh. Andasu Ravinder at his home on August 29, 2011, in connection with certain favours the official extended to settle tax-related disputes.

Further investigation is under progress.