Tribune News Service
New Delhi, November 2
The Enforcement Directorate (ED) today said it has issued a provisional attachment order under the Prevention of Money laundering Act (PMLA) to seize a highway resort in Punjab worth Rs 32 crore as part of a legal cooperation between India and Netherlands.
The multi-acre “Cabbana Resort and Spa”, located on the National Highway No. 1 in Phagwara, belongs to Shivlal Pabbi and his associates, the agency said, adding its total value was around Rs 32.57 crore. The property is known for hosting luxury weddings, corporate events, among others, and is “managed by Shivlal Pabbi’s cousins Anil Kumar Chodha and Manoj Kumar Chodha”, it said.
Pabbi was arrested by the ED in the past and all accused have been charge-sheeted by the agency before a special PMLA court in Mohali in September. “The ED initiated money laundering investigation against Pabbi and others on the basis of a request made by the Netherlands government,” it said, adding “Pabbi committed cheating and forgery in the Netherlands on the basis of fraudulent and forged documents prepared in connivance with his Indian associates”.
Pabbi, it alleged, ran an “underground” banking channel without permit, which meant hawala business in the Netherlands. “The proceeds of crime generated by Pabbi were laundered through Pakistan nationals based in Dubai, who transferred the money to him and his family members’ NRE accounts in Phagwara,” the ED alleged.
‘Built using hawala money’
- Owner Shivlal Pabbi is accused of running ‘underground’ banking channel in the Netherlands
- Proceeds were laundered through Dubai-based Pak nationals into family’s accounts in Phagwara
- The money was invested in development of Cabbana Resort amp; Spa, the agency has claimed
Rs32 cr Phagwara resort attached
{$excerpt:n}
