Sanjay Bhandari extradition granted: On November 7, 2022, a United Kingdom Magistrate court approved the request for middleman Sanjay Bhandari ‘s extradition to India in connection with the accusations of money laundering and tax evasion, pending the Secretary of State’s final judgement. The verdict of Sanjay Bhandari extradition may be contested by the defendant in a higher court of appeal.
Sanjay Bhandari extradition granted by UK Court: Key Points
- The first plea of Sanjay Bhandari extradition was submitted on April 15, 2020, and it related to a money laundering offence that the Enforcement Directorate (ED) was looking into.
- The second plea, submitted on June 2, 2021, related to tax evasion allegations made under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Asset) and Imposition of Tax Act.
- The Income Tax Department’s conclusions served as the foundation for the money laundering prosecution.
- The initial hearing had been held from March 3 and 9, 2022. According to the Indian government, Mr. Bhandari reportedly acquired substantial income outside of India and purchased assets in foreign countries without disclosing these transactions to the Indian tax authorities.
- In addition, he did not take advantage of a one-time compliance opportunity offered in relation to the Black Money Act between July 1 and September 30, 2015.
Sanjay Bhandari extradition: Investigation
The investigation agency said that money was hidden in properties owned by several offshore companies with offices in the British Virgin Islands and Panama. Mr. Sanjay Bhandari is said to have possessed a Burj Khalifa apartment in Dubai and a flat in London throughout the check period. According to their claims, he had previously established Santech International FZC, Offset India Solutions FZC, and Petro Global Technologies Limited in the UAE. He also allegedly owned MVD Global/Vertex Management Holdings Limited, which is domiciled in Jersey.