Lawstreet Journal

IAF Pilatus Jet Money Laundering Case: ED Raids Multiple Cities

Lawstreet Journal 10 Aug 2020 11:37pm

Image courtesy: Lawstreet Journal Executive IAF Pilatus Jet Money Laundering Case: ED Raids Multiple Cities

On Friday the Enforcement Directorate raided 14 premises in Delhi, Gurugram, and Surat. The raided locations were in connection with its money laundering probe in the purchase of 75 Pilatus basic Trainer Aircraft for the Indian Air Force (IAF) in 2009. To collect evidence under the Prevention of Money Laundering Act (PMLA), the central probe agency is carrying out the action and had filed a money laundering case to probe the deal.

In June 2019 the Enforcement Directorate (ED) had filed a money laundering case against fugitive arms dealer Sanjay Bhandari on the basis of CBI FIR the same month. CBI named unknown official of the IAF, Defense Ministry and Switzerland based Pilatus aircraft limited apart from Bhandari in the deal worth Rs. 2,895 crore.   

In June 2010 the Pilatus dishonestly and fraudulently signed a service provider agreement with Bhandari and entered into a criminal conspiracy with him, which was in violation of the defense procurement procedure, 2008.

CBI said that the agreement which was signed was to get the contract for the supply of 75 basic Trainer Aircraft to the Indian Air Force. CBI further said in its FIR that Pilatus dishonestly and fraudulently signed a Pre-contract Integrity Pact on 12th November 2010 with the Defense Ministry, deliberately concealing the facts about service provider agreement with Bhandari and also the payments made to Bhandari in India and Dubai.

It has alleged that the company made a payment of Swiss Franc 1,000,000 in the account Offset India Solution Pvt. Limited, a company linked… Continue Reading...


Tagged: Enforcement Directorate  
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