Deepak Talwar case: ED attaches Rs 120 cr Delhi hotel

New Delhi, Mar 30 (AGENCIES) | Publish Date: 3/30/2019 12:15:46 PM IST

Enforcement Directorate has provisionally attached a Hotel Holiday Inn worth Rs 120.20 crore in connection with an alleged money laundering case against lobbyist Deepak Talwar, his family members and related entities, said the agency on Friday.

The ED said Talwar is being probed on the basis of an FIR lodged by the Central Bureau of Investigation against officials of the Civil Aviation Ministry, NACIL, Air India and unknown private persons.

“It has been revealed that accused Deepak Talwar illegally engaged in liasoning/lobbying with politicians, ministers, other public servants and officials of Ministry of Civil Aviation for airlines such as Emirates, Air Arabia and Qatar Airways for securing undue benefits for them,” alleged the agency.

The accused illegally managed to secure favourable traffic rights for these airlines during 2008-09 at the cost of national carrier, Air India.

In lieu of securing favourable traffic rights, these airlines allegedly made payments to the tune of Rs 272 crore to  Talwar during 2008-09.

“Investigation revealed that Talwar created a web of entities owned by him and his family members in India and offshore havens, to launder proceeds of crime of Rs 272 crore,” the ED alleged.

Part of these payments were deposited in a Bank of Singapore account, belonging to a company, Asiafield Limited, registered in the British Virgin Islands and beneficially owned by Talwar, as alleged by the agency.

“These proceeds of crime were layered through a series of international money transfers, to finally integrate in India in Wave Hospitality Private Limited, a company beneficially owned and controlled by Talwar and his family member. The funds were used in the construction of Hotel Holiday Inn in Delhi’s Aerocity,” said the ED.

Accused Deepak Talwar was deported by the immigration authority of Dubai on January 31 and arrested by the ED. He is currently in judicial custody.

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