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.
ED initiated investigation on the basis of the Prosecution Complaint filed by Directorate of Revenue Intelligence, Jaipur against Subhash Dudani and his associates under sections of the NDPS Act, 1985. Subhash Dudani, along with his associates ran an international illegal drug racket, partnering with (Late) Ronny Jonny Smith, an African drug lord. He set up separate units at Udaipur, Kandla and Nagpur for manufacturing, transporting and illegal smuggling of methaqualone tablets to African countries under the guise of exports, devising different modus on each occasion. Based on the evidence and material gathered during the PMLA investigation, it has been established that Subhash Dudani and others generated proceeds of crime through the sale of illegal drugs while simultaneously setting up CDRs/DVDs manufacturing unit and other trading entities at Dubai, Hong Kong, Kenya and London either in his name or in the name of his employees /associates as front businesses for laundering such proceeds from the sale of drugs.
The proceeds of crime earned out of the illegal sale of these drugs abroad, mainly in African countries were introduced to various companies floated by him in UAE & Hong Kong. Subsequently, these funds were transferred to his Indian NRE/NRO accounts, and to the bank accounts of his associates and companies in India at Udaipur and Mumbai. Cash was also brought in through various hawala channels to India.
This money, was, inter alia, used to purchase various properties in his name and in the name of his associates, family members and companies. Earlier, eighteen immovable properties worth Rs.8,53,20,372 were attached and the attachment was confirmed by the Hon’ble Adjudicating Authority. Three more immovable properties at Mumbai and Rajasthan belonging to Subhash Dudani and his family members have been identified and attached. These properties are worth Rs.4.49 Crore (approx). Further investigation is in progress.
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