APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI FPA-PMLA-2507/DLI/2018 R. Balachandran … Appellant Versus The Assistant Director Directorate of Enforcement, Delhi … Respondent Advocates/Authorized Representatives who argued For the Appellant : Mr. Akshat Gupta, Shrey Nautiyal, Advocates For the Respondent : Mr. N.K. Matta, SPP, Mr. Aaditya Raj Sharma, Mr. Kartik Malhotra, Advocates CORAM SHRI G.C. MISHRA : MEMBER SHRI RAJESH MALHOTRA : MEMBER

FINAL ORDER

09.04.2025 Dictated By: Rajesh Malhotra Present appeal under Section 26 of Prevention of Money Laundering Act, 2002 (PMLA) is filed by the appellant against the order dated 20.06.2018 passed by the Adjudicating Authority in Original Application No. 172 of 2018, whereby it confirmed the seizure of the documents, Seagate Hard Disk (500 GB), Toshiba Hard Disk (1 TB) seized vide Schedule of Panchnamas dated 13.01.2018 recovered from the premises of the appellant at Flat 3-B, 3rd Floor, Block-III, Bajaj Apartment, 7/4 Nandanam Extension, Main Road Chennai - 600035, which is annexed as Annexure A-2 of the present appeal.

2. As per the facts of the case, ECIR/05/DZ/2012 dated 07.02.2012 is registered by the Enforcement Directorate and investigation under PMLA is continuing. The ECIR pertains to the scheduled offences i.e. 120-B of IPC, Section 7, 13(2) r.w. 13(1)(d) of PC Act. The ECIR is against Sh. Dayanidhi Maran and others. A criminal prosecution is also registered against Dayanidhi Maran, Kalanidhi Maran, Ralf Marshall, T. Anandkrishnan, M/s Maxis Communications, Astro All Asia Networks PLC, M/s Sun Direct Pvt. Ltd. and other unknown officials / persons or commission of offence u/s 3 of PMLA, as was indicated in the ECIR dated 07.02.2012. On 13.01.2018 the residential premises of Sh. Bhakararaman at T-1, 3^rd Floor No. 33, Krishnapadmam, 1^st Cross Street, Kodamballkam, Chennai 24 was searched from where documents/ digital evidences were recovered and seized as detailed in Panchnama.

It is revealed that Advantage Strategic Consulting Pvt. Ltd. and Chess Management Services are the companies of Karti P. Chidambaram, wherein S. Bhaskararaman is also involved. It is also believed that the financial transactions by these two companies amounting to Rs. 26,00,444/- and Rs. 90.09 lakhs (Rs. 1.16 crore approx.) are not genuine and bonafide business transactions. Individuals involved in receiving the said suspected funds were S/Shri Karti P. Chidambara, Ravi Visvanathan, Mohanan Rajesh, CBN Reddy, S. Bhaskararaman and Ms. Padma Visvanathan. Sh. S. Bhaskararaman is a Chartered accountant and is looking after the financial matter of Sh. Karti P. Chidambaram (KPC) since the year 2005-06.

It is suspected that KPC has received funds in and outside India connected with the FIPB approval given to Aircel Maxis on 20.03.2006, in addition to Rs. 1.16 crores as stated above. It is found that the overseas assets have been heavily altered/ transferred by KPC out of India with the assistance of various persons. Some of the bank accounts were opened and now are being closed by Karti P. Chidambaram in U.K.

It is also suspected that holding company of Aircel Ltd. i.e. Aircel Televenture Ltd. of Mr. Sivasankaran and the associate companies of Maxis Malaysia in India namely, Apollo Group of Companies viz. Sindiya Securities Investments Pvt. Ltd. and others might have paid funds to the companies of KPC in India, in connection with the FIPB approval given to Aircel – Maxis Deal.

Records reveal further that a number of companies had paid funds to the companies of KPC, namely, Advantage Strategic Consulting Pvt. Ltd. and Chess Management Services Pvt. Ltd. under the colour of consultancy fee which is not a fact. Such companies have paid funds not only in India but in foreign countries also in which either CBN Reddy or S. Bhaskararaman or some foreign national or Advantage companies in Singapore, Spain etc. The present appellant Shri R. Balachandran is a Chartered Account of the group companies of KPC and its Associates,