The Guwahati zonal office of the Directorate of Enforcement (ED) has provisionally attached immovable assets valued at ₹53.28 crore in a money laundering investigation involving a retired IPS officer from Assam and his family members, along with associated companies.

This action falls under the provisions of the Prevention of Money Laundering Act (PMLA), established in 2002.

According to the ED’s statement, the inquiry against Prasanta Kumar Dutta, who served as Deputy Inspector-General until his retirement in 2019, was initiated following a first information report (FIR) lodged by the Vigilance and Anti-Corruption Branch of the Assam police.

The FIR indicates that Mr. Dutta accumulated assets significantly exceeding his known income during his tenure from 1992 to 2019. He and his wife reportedly possess undisclosed assets worth approximately ₹77.21 crore, juxtaposed with a disclosed income of ₹7.23 crore and recognized expenditures amounting to ₹9.04 crore.

The ED assessed the net disproportionate assets at about ₹79.01 crore, based on the available evidence.

Money Laundering Mechanism Uncovered

Investigations under the PMLA revealed that the illicit gains were laundered and presented as legitimate property through three closely-held firms: Mahamaya Estates Pvt. Ltd., Ishan Commercial Pvt. Ltd., and Murari Commodities Pvt. Ltd. Investigators discovered that the registered addresses of these companies were fictitious.

The statement elaborated that investigations indicated the introduction of unexplained cash totaling ₹14,74,99,091 into the accounts of the family and their companies. Furthermore, there were instances of layering funds involving fictitious shareholders, shell companies based in Kolkata, and circular bank transfers leading to investments in hotel properties and apartments in Mumbai.

“The shareholders of these three companies predominantly lacked independent financial means and included fictitious or ‘name-lending’ investors, who could not justify the source of their funds,” the ED stated.

Major Shareholder and Property Attachments

Post-retirement, Mr. Dutta is said to have transferred 3,70,000 shares of Ishan Commercial Pvt. Ltd. from these fictitious shareholders to his name, making him the largest shareholder of the company, which is linked to three of the four hotels registered under his family’s name.

The ED has provisionally attached these four hotels located in Guwahati and two residential flats situated in Andheri West, Mumbai.

The agency noted that further investigations are currently underway.