The Enforcement Directorate (ED) on Monday told the Bombay high court that Pune builder Avinash Bhosale has suppressed information about his bank accounts in Dubai.
The HC is hearing a petition filed by Bhosale challenging the ED’s move to withhold his passport while investigating alleged foreign exchange violations. Earlier, the court had directed the ED to release Bhosale’s passport if he cooperated with the investigations and gave the details of his foreign bank accounts and transactions.
Bhosale had given details of some of his accounts in Dubai but when investigators went there they discovered that he had more accounts than those disclosed. From one of the accounts, in the name of Bhosale Trading Co, transactions of over US$ 0.8 million were done between 2003 and 2005. ED’s affidavit states that Bhosale “deliberately” furnished incorrect information regarding non-existent accounts.
Additional solicitor general Rajendra Raghuvanshi told the court that investigations into the accounts were being hampered due to lack of valid authorisation from Bhosale, who was deliberately concealing information.
The ED has sought 12 weeks to carry out its investigations. The court has asked Bhosale to file his reply and has posted the matter for hearing on Wednesday.
dnacity@dnaindia.net
