Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / Policy/  VVIP chopper deal: ED arrests businessman Gautam Khaitan
BackBack

VVIP chopper deal: ED arrests businessman Gautam Khaitan

ED arrested Khaitan under the provisions of Prevention of Money Laundering Act, after searches at two of his premises in New Delhi

The Enforcement Directorate seized jewellery worth Rs1 crore and impounded financial documents from Gautam Khaitan’s premises in relation to the AgustaWestland chopper deal. Photo: BloombergPremium
The Enforcement Directorate seized jewellery worth Rs1 crore and impounded financial documents from Gautam Khaitan’s premises in relation to the AgustaWestland chopper deal. Photo: Bloomberg

New Delhi: The Enforcement Directorate (ED) on Tuesday carried out its first arrest in the money laundering probe in the 3,600-crore AgustaWestland chopper deal, taking into custody Gautam Khaitan, an ex-board member of an accused company. The agency, which is trying to track the alleged kickbacks of 360 crore from the deal, arrested Khaitan, a businessman and advocate, after searches were conducted at two of his premises in New Delhi on Monday.

“Khaitan has been arrested under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA). He is required for further detailed interrogation in the case," people from ED familiar with the matter said.

The agency had seized jewellery worth 1 crore and impounded some “important" financial documents from Khaitan’s premises. This is the first big action by ED in this case after it registered a criminal FIR (first information report) in the deal in July against Khaitan, former Indian Air Force (IAF) chief S.P. Tyagi and 19 others in the VVIP chopper deal to probe the alleged kickbacks of 360 crore.

Khaitan was on the board of Chandigarh-based Aeromatrix Info Solutions Pvt. Ltd, which is allegedly a front company for the financial dealings of the chopper deal. According to the Central Bureau of Investigation (CBI) and other agencies, they had detected that funds for the particular deal were allegedly routed through this firm and few others. A reference to Khaitan was also reportedly made in the Italian prosecutor’s report filed in a court in Italy.

Khaitan has refuted all the allegations made against him. The ED had registered a case in this deal under PMLA, taking cognizance of a more-than-a-year-old CBI FIR.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 23 Sep 2014, 02:39 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App