New Delhi, Nov 1 The Enforcement Directorate (ED) has attached a Resort and Spa worth Rs 32.57 crore belonging to an Indian-origin Dutch national under anti-money laundering law as part of legal cooperation between India and the Netherlands.
According to an official statement, the ED attached Cabbana Resort and Spa situated on NH-1, Phagwara - Jalandhar Highway, Phagwara, Punjab having a value of Rs 32.57 crore belonging to Shivlal Pabbi and his associates in connection with a money-laundering investigation.
The ED initiated a money-laundering investigation against Shivlal Pabbi and others on the basis of a request made by the Netherlands Government.
Money laundering investigation carried out by the ED has revealed that Shivlal Pabbi committed cheating and forgery in the Netherlands on the basis of fraudulent and forged documents prepared in connivance with his Indian associates. Shivlal Pabbi was operating an underground hawala business in the Netherlands, the probe agency said.
The proceeds of crime generated by Shivlal Pabbi were laundered through Pakistani individuals based in Dubai, who transferred the money to Shivlal Pabbi and his family members' NRE accounts in Phagwara. The proceeds of crime were invested in the development and construction of the resort which is spread over several acres and is a renowned venue for hosting luxurious weddings, corporate events, etc.
The resort is being managed by Shivlal Pabbi's cousins Anil Kumar Chodha and Manoj Kumar Chodha.
Shivlal Pabbi was arrested by the ED on July 17, while trying to flee from the country.
A Prosecution complaint against Shivlal Pabbi, Anil Kumar Chodha, Manoj Kumar Chodha, Mukesh Sharma, Mayfair Resorts Pvt Ltd, and Cabbana Infrastructure Pvt Ltd was filed by the ED before the Special Court Mohali on September 9, the statement said.
Further investigation into the matter is in progress.
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