Daijiworld Media Network - Mumbai

Mumbai, Mar 22: The Enforcement Directorate (ED) has filed a Prosecution Complaint against Sidharth Abhay Choksi and Abhay Sajanlal Choksi in connection with a case involving undisclosed foreign income and assets. The Special Court (PMLA), Mumbai, acknowledged the complaint on March 19, 2025, and initiated legal proceedings against the accused.

The investigation stemmed from complaints filed by the Income Tax Department under The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. These complaints were initially lodged before the Additional Metropolitan Magistrate in Mumbai.

ED's inquiry revealed that the Choksi brothers were the beneficial owners of Blue Mist International Inc., an offshore company registered in the British Virgin Islands (BVI). The entity maintained a bank account in Singapore and had acquired a property there through a Sale & Purchase Agreement with HKCL Investments Pte Ltd.

Further investigation established that the Choksi brothers possessed undisclosed foreign income and assets amounting to approximately Rs 8.09 crore, which have been classified as Proceeds of Crime (POC). As part of its enforcement action, the ED had earlier issued a Provisional Attachment Order on January 1, 2025, seizing assets worth Rs 8.09 crore linked to the case.

This move aligns with the ED’s broader initiative to curb black money, enforce financial transparency, and recover illicitly acquired assets. With the prosecution now in motion, the agency aims to hold those involved in financial crimes accountable while ensuring the repatriation of illegally obtained wealth.