Chandigarh, June 25,
Investigations by the Special Investigation Team (SIT) and Punjab Vigilance Bureau (VB) have exposed a large-scale drug money laundering operation allegedly facilitated by Bikram Singh Majithia, with illicit enrichment exceeding ₹540 crores. The probe, centered on FIR No. 02 of 2021 registered at Punjab State Crime Police Station, SAS Nagar, under sections 25, 27-A, and 29 of the NDPS Act, 1985, revealed extensive financial irregularities involving Majithia’s controlled entities.
Key Findings
Preliminary investigations identified:
- Unaccounted Cash Deposits: ₹161 crores in unexplained cash deposited into bank accounts of companies controlled by Majithia.
- Foreign Transactions: ₹141 crores funneled through suspected foreign entities.
- Undisclosed Funds: ₹236 crores deposited without explanation or disclosure in company financial statements.
- Illicit Asset Acquisition: Acquisition of movable and immovable assets by Majithia and his wife, Genieve Kaur, with no legitimate income source.
The VB spokesperson stated that these funds, primarily laundered through Saraya Industries, were drug money generated illegally, leveraging Majithia’s influence as a former MLA and Cabinet Minister in the erstwhile Punjab Government.
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Case Details
The VB registered a case based on the SIT’s report, which uncovered substantial evidence of drug money laundering. The spokesperson confirmed that the ₹540 crores tracked so far were illicitly generated, with Majithia’s public office allegedly facilitating the operation. Assets registered in Majithia and his wife’s names have shown significant growth, unsupported by verifiable income sources.
Searches and Seizures
- SIT Operations: Conducted searches on 22 individuals, recovering critical evidence.
- VB Operations: Raided three locations, seizing:
- Over 30 mobile phones
- 5 laptops
- 3 iPads
- 2 desktops
- Several diaries
- Numerous property documents
- Extensive records related to Saraya Industries
Arrest and Ongoing Probe
Bikram Singh Majithia has been arrested by the Vigilance Bureau following due legal procedures. The VB spokesperson emphasized that investigations are ongoing, with more arrests, searches, and seizures expected. All evidence will be presented before a competent court for a judicial verdict.
Commitment to Justice
The SIT and VB are determined to pursue the case to its logical conclusion, ensuring accountability for the alleged laundering of drug money. The investigations aim to dismantle the financial networks involved and deliver justice based on the evidence collected.
