Mohali court orders confiscation of ₹10-cr assets in Bhola drug case

THE PROPERTIES INCLUDE IMMOVABLE ASSETS, INDIAN AND FOREIGN CURRENCIES AND FIXED DEPOSITS OF BHOLA, 4 OTHERS

MOHALI : A special Prevention of Money Laundering Act (PMLA) court in Mohali on Wednesday ordered “confiscation” of ₹10 crore worth assets that were attached by the Enforcement Directorate (ED) in connection with Bhola drug case, the economic law enforcing agency said on Wednesday.

The confiscation order pertains to a multi-crore synthetic narcotics racket, commonly known as the Bhola drug case, unearthed in 2013-14 in Punjab.

The properties include immovable assets, Indian and foreign currencies and fixed deposits that were in the name jailed prime accused Jagdish Singh Bhola, and four other accused — Roy Bahadur Nirwal, Mahesh Gaba, Anoop Singh Kahlon and Varinder Singh Raja — who are absconding.

The agency said in a statement that the court “while passing the confiscation order categorically observed that no objection regarding confiscation of the properties has come from any quarter in spite of publication in the newspaper to the public”.

“The court held that since the properties attached by the ED have been confirmed by the adjudicating authority (of the Prevention of Money Laundering Act) and the accused persons have been declared as proclaimed offenders (by the court) for evading the process of law subsequent to prosecution complaints filed against them, the said properties are confiscated to the central government,” it said.

The money laundering case was filed by the ED after the FIRs registered by the Punjab Police. Bhola was arrested by the ED in January 2014. “He has filed three bail applications on various dates, however, all were dismissed by the special court,” the ED said.

The ED till now has attached assets to the tune of ₹95 crore in this case.