During investigation, it was found that both Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi held undisclosed foreign income and assets amounting to a total of Rs8.09 Crore, which are Proceeds of Crime (POC) in this case
FinTech BizNews Service
Mumbai, March 23, 2025: Directorate of Enforcement (ED), Mumbai Zonal Office has filed a Prosecution Complaint (PC) before the Hon’ble Special Court (PMLA), Mumbai on 13.03.2025 in a case against Sidharth Abhay Choksi and Abhay Sajanlal Choksi. Hon’ble Special Court has taken cognizance of the PC on 19.03.2025 and has issued process against the accused persons, as per the press release issued by the ED.
ED initiated investigation on the basis of Prosecution Complaints filed by the Income Tax Department against Sidharth Abhay Choksi and Abhay Sajanlal Choksi before the Additional Metropolitan Magistrate, Mumbai under the provisions of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
ED investigation revealed that both Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi were the beneficial owners of an offshore entity, Blue Mist International Inc., registered in the British Virgin Islands having a bank account at Singapore. ED investigation further revealed that Blue Mist International Inc., BVI had entered into a Sale & Purchase Agreement with HKCL Investments Pte Ltd for purchase of a property at Singapore.
During investigation, it was found that both Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi held undisclosed foreign income and assets amounting to a total of Rs. 8.09 Crore, which are Proceeds of Crime (POC) in this case. Earlier, ED has issued a Provisional Attachment Order on 01.01.2025 for assets worth Rs.8.09 Crore (approx.) in this case.
