ED summons Lodhiya

Rajkot, 14 November 2014

The Enforcement Directorate (ED) has summoned Rajkot-based bullion trader Pankaj Lodhiya, whose name figured in the list of black money holders submitted by the government to the Supreme Court, to probe if he was involved in hawala trade.

ED sources said Lodhiya has been on its radar ever since Income Tax sleuths conducted a search operation during 2013 and found several documents which confirmed that he had atleast two overseas bank accounts — one in Dubai and another in Singapore.

After his name surfaced in the list of black money holders, the ED has once again opened his case to find out if he has been using his overseas bank accounts to send his black money outside India.

ED’s focus is on the possibility of Lodhiya using his overseas business and bank accounts to run a hawala network as well as helping others to send their money outside India, sources said.

Earlier, Lodhiya was questioned twice by the ED during the last year to learn about his overseas dealings, sources said.

After his name figured in the affidavit filed by the Centre in black money case, Lodhiya had denied the charges by saying he was surprised that his name figured in the list and that he does not hold any account in Swiss banks.

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It is learnt that Lodhiya has paid Rs. 18 cror income tax before settlement commissioner bench recently. ED has received settlement commissioner documents. Accounts in Dubai and Singapore bank and other accounts are under scrutiny. Investigation will be carried out under money laundering and FEMA clauses.