ED attached Immovable Properties worth Rs.4.49 Crore in a Prohibited Drugs Case connection with Money Laundering Investigation

The Directorate of Enforcement(ED) has attached three immovable properties worth Rs.4.49 Crore (approx.) belonging to (Late) Subhash Dudani and his family members, in connection with a money laundering investigation related to manufacture and sale of methaqualone tablets, a prohibited psychotropic substance as per NDPS Act, 1985.

The inquiry was launched by the ED in response to a Prosecution Complaint filed by the Directorate of Revenue Intelligence, Jaipur, against Subhash Dudani and his colleagues under provisions of the NDPS Act, 1985.

Subhash Dudani and his friends led an international illicit drug operation, collaborating with African drug kingpin (late) Ronny Jonny Smith. He established distinct operations in Udaipur, Kandla, and Nagpur for the manufacture, transportation, and illegal smuggling of methaqualone pills to African nations under the premise of exports, employing a new method on each occasion.

Based on the evidence and material gathered during the PMLA investigation, it has been established that Subhash Dudani and others generated criminal proceeds through the sale of illegal drugs while simultaneously establishing CDRs/DVDs manufacturing units and other trading entities in his name or in the names of his employees/associates as front businesses for laundering such proceeds from the sale of drugs in Dubai, Hong Kong, Kenya, and London.

The revenues of crime from the unlawful sale of these substances overseas, primarily in African nations, were brought to numerous firms he established in the UAE and Hong Kong. These money were then moved to his Indian NRE/NRO accounts, as well as the bank accounts of his acquaintances and firms in Udaipur and Mumbai. Cash was also transported into India via different hawala methods.

This money was used to buy numerous properties in his name and the names of his acquaintances, family members, and corporations, among other things. Previously, eighteen immovable assets worth Rs.8,53,20,372 were attached, and the Hon’ble Adjudicating Authority affirmed the attachment. Three additional immovable properties belonging to Subhash Dudani and his family members in Mumbai and Rajasthan have been located and attached. These properties are estimated to be valued Rs.4.49 crore (approx).

Further investigation is in progress