HEAVY ILLICIT ENRICHMENT OF MORE THAN 540 CRORES, HUGE UNACCOUNTED CASH WORTH RS. 161 CRORES DEPOSITED IN BANK ACCOUNTS OF COMPANIES CONTROLLED BY MAJITHIA, CHANNELISATION OF RS. 141 CRORES THROUGH SUSPECTED FOREIGN ENTITIES, EXCESS DEPOSITION OF RS. 236 CRORES WITHOUT DISCLOSURE/EXPLANATION IN COMPANY FINANCIAL STATEMENTS, SEARCHES AND SEIZURES OF 22 PERSONS BY S.I.T. AND 03 LOCATIONS BY VB YIELD OVER 30 MOBILE PHONES, 05 LAPTOPS, 03 IPADS, 02 DESKTOPS, SEVERAL DIARIES, MANY PROPERTY DOCUMENTS AND MANY DOCUMENTS OF SARAYA INDUSTRIES
(MOREPIC1)Face2News/Chandigarh /Mohali/Amritsar
Investigations by the Special Investigation Team (SIT) probing the FIR no. 02 of 2021 registered in Police Station Punjab State Crime and the Vigilance Bureau reveal massive laundering of drug money facilitated by Bikram Singh Majithia. Preliminary investigations reveal that more than Rs. 540 crores of drug money has been laundered through several ways, including
(i) Huge unaccounted cash worth Rs. 161 crores deposited in bank accounts of companies controlled by Bikram Singh Majithia,
(ii) Channelization of Rs. 141 crores through suspected foreign entities,
(iii) Excess deposition of Rs. 236 crores without disclosure/explanation in company financial statements, and
(iv) Acquisition of movable/immovable assets by Bikram Singh Majithia without any legitimate source of income. (SUBHEAD)
A Punjab Vigilance Bureau spokesperson stated here today that the Vigilance Bureau has registered a case based on a report of the Special Investigation Team (SIT) investigating FIR No. 02, dated 20-12-2021 registered u/s 25, 27-A and 29 NDPS Act 1985, PS Punjab State Crime, SAS Nagar wherein substantial evidence has been uncovered indicating massive laundering of drug money by Bikram Singh Majithia.
These transactions are being investigated by the Vigilance Bureau and the investigations done by the S.I.T. clearly indicate that these funds were laundered drug money funneled into Saraya Industries facilitated by Bikram Singh Majithia.
The VB spokesperson added that so far, Rs. 540 Crores drug money has been tracked as having been generated illegally and by using the influence of Bikram Singh Majithia as a Public Servant being an MLA and holding a Cabinet post in erstwhile Punjab Government.
The VB spokesperson stated that assets, including both immovable/movable in the name of Bikram Singh Majithia and his wife Genieve Kaur have increased substantially for which no legitimate source of income has been provided.
According to the VB spokesperson, searches and seizures have been conducted by the SIT of 22 persons and by the Vigilance Bureau at 03 locations which have yielded over 30 mobile phones, 05 laptops, 03 ipads, 02 desktops, several diaries, many property documents and many documents of Saraya Industries.
The spokesperson stated that Bikram Singh Majithia has been arrested by the Vigilance Bureau in accordance with law after following due procedure.
Investigations are ongoing and more arrests, searches and seizures would take place. The investigations would be taken to their logical conclusion by submitting all collected evidence before the court of competent jurisdiction for judicial verdict.
