3 I-T officials face probe for money laundering
NEW DELHI: The CBI and the Enforcement Directorate have named three income tax commissioners and a city-based lawyer in a money laundering investigation registered by the agencies earlier this month against Vadodara-based Sterling Biotech.
The agencies found that the city lawyer, who has links with a senior Congress leader, had made several high value cash transactions. Some of the cash was laundered abroad using "paper companies".
A part of these cash transactions has been linked to the purchase of a farmhouse in Delhi. A principal commissioner of income tax and two commissionerrank I-T officials have also been accused along with the lawyer.
Sterling Biotech has approached Delhi high court seeking a stay on the ED and CBI investiga tion and stay on likely arrests.
The case is listed for hearing in the chief justice's court on Wednesday. The three income tax officers named by the agencies are Sunil Kumar Ojha, Subhash Chandra and Manas Shankar Ray.