Absconding arms dealer Sanjay Bhandari chargesheeted in PMLA case; Robert Vadra also named

In a massive development, a Rouse Avenue court took cognisance of a charge sheet filed by the Enforcement Directorate (ED) against fugitive economic offender Sanjay Bhandari. The ED had filed a prosecution complaint (i.e. charge sheet) under section 44 and 45 of the Prevention of Money Laundering Act, 2002 (PMLA) against Bhandari and his co-conspirators. Sources report that Congress President Sonia Gandhi's son-in-law Robert Vadra has been named in the charge sheet. The court has asked ED to expedite Bhandari's extradition process from UK.  

EXCLUSIVE: India set to move for arms dealer Sanjay Bhandari's extradition

ED chargesheets Sanjay Bhandari

The chargesheet names Bhandari and several co-conspirators, including various companies floated by Bhandari in overseas jurisdiction for money laundering. The special court has issued summons to the accused and directed ED to expedite the process of extradition against Sanjay Bhandari pending before UK Authorities. Bhandari was arrested in London, after a Central agency requested the same. He was later given bail by a UK court and extradition proceedings have started.

The ED has stated that Bhandari stashed black money abroad with the assistance of his accomplices to evade taxes causing huge financial loss to the national exchequer. During the course of investigation, ED revealed that Sanjay Bhandari incorporated various entities in UAE as owner / beneficial owner and also had financial interest in entity incorporated in Panama. All those foreign assets and entities were not disclosed by Sanjay Bhandari to Income Tax authorities in India, said ED.

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What has Bhandari been charged with?

Bhandari who is an arms dealer had allegedly signed an agreement with Samsung Engineering for consultancy services for $10 million. Samsung Engineering paid Bhandari's company - Dubai-based Santech International FZC - $5 million in 2009, after it was awarded the ONGC contract worth Rs 6,800 crore in October 2009. In turn, Bhandari acquired a property (No.12, Brynstone Square, London) by purchasing 100% shares of M/s Vertex Management Holdings Ltd for around $5 million in August 2009 (two months after the ONGC - Samsung deal payment). This property was later sold to Skylight Investments FZE, Dubai in 2011-12. 

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Skylight Investment was allegedly floated in April 2009 by one CC Thampi for the purpose of acquiring immovable assets, but no business was conducted in this company. The CBI had already filed two FIRs for allegedly receiving kickbacks in a deal struck during the UPA era. This is the second case registered against Bhandari by CBI.  

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