Hindusthan Samachar
Banner 2 बुधवार, अप्रैल 24, 2019 | समय 21:49 Hrs(IST) Sonali Sonali Sonali Singh Bisht

ED attaches property of hotel 'Holiday Inn'

By HindusthanSamachar | Publish Date: Mar 30 2019 5:33PM
ED attaches property of hotel 'Holiday Inn'
New Delhi, Mar.30 (HS): The Enforcement Directorate(ED) has provisionally attached property Hotel Holiday Inn located in Aerocity, New Delhi valued at Rs. 120.20 crores in a Money Laundering case being investigated by ED against Deepak Talwar and his family members and related entities. Investigation under PMLA was initiated by ED in August 2017 on the basis of FIR registered by CBI against officials of Ministry of Civil Aviation, NACIL, Air India and against some unknown private persons. It has been revealed that accused Deepak Talwar illegally engaged in liasoning with politicians, ministers, other public servants and officials of ministry of civil aviation for airlines such as Emirates, Air Arabia and Qatar Airways for securing undue benefits for them. He, illegally, managed to secure favorable traffic rights for these airlines during 2008-09 at the cost of National carrier, Air India. Investigation under PMLA revealed that in lieu of securing favourable traffic rights, these Airlines made payments to the tune of Rs. 272 crores to Deepak Talwar during 2008-09. During investigation it has revealed that Deepak Talwar created a web of entities owned by him and his family members in India and international offshore havens, to launder Proceeds of Crime of Rs. 272 crores received from foreign airlines. However, part of these payments were made to a bank account in Bank of Singapore, belonging to a company M/s Asiafield Limited registered in the British Virgin Islands and beneficially owned by Deepak Talwar. These Proceeds of Crime were layered through a series of international money transfers, to finally integrate in India in M/s Wave Hospitality Private Limited, a company beneficially owned and controlled by Deepak Talwar and his family membersin the name of his son, Aditya Talwar. Money was then utilized in the construction of Hotel Holiday Inn in Aerocity, New Delhi. Accused Deepak Talwar had fled the country in year 2017 to avoid the investigation. However, he was deported by immigration authority of Dubai on 31.01.2019 and was arrested under PMLA. At present he is in Judicial Custody. Hindusthan Samachar/Pramod
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