Capt. Amarinder Singh’s son probed by ED on alleged FEMA violations

24th October 2020

24th October 2020

Capt. Amarinder Singh with his son Raninder Singh

It has been reported that Raninder Singh, son of Captain Amarinder Singh, Punjab's chief minister has received a summon from the Enforcement Directorate (ED) to appear before it for questioning.

Singh was summoned by the ED at its office in Jalandhar on October 27. He is expected to be questioned by the ED in connection with the alleged Foreign Exchange Management Act (FEMA) violation, as per reports.

In July 2016 as well ED had interrogated Raninder Singh for alleged transfer of funds to Switzerland, British Virgin Islands' subsidiaries, and the foundation of Jacaranda Trust. On September 14, 2020, an application was filed by ED seeking permission to access files of I-T regarding 3 cases against Singh. Initially, ED had received permission to investigate the files but later the central agency had to stop the inspection due to a revised petition filed by Raninder Singh contending that because he did not receive any notice from ED, therefore, the central agency had no rights to investigate further.

Raninder Singh's advocate, Jaiveer Shergill said that before putting up the case, he would go through the summons.

CM Amarinder Singh and his wife Preneet Kaur were sent notices after the Central Board of Direct Taxes (CBDT) received information from France that Raninder Singh was the settler of Jacaranda Trust, which was the beneficial owner of various British Virgin Islands (BVI)-registered entities namely Chillingham Holdings Ltd, Limerlock International Ltd, Mulwala Holdings Ltd and Allworth Ventures Holding Ltd, as per Indian Express report.

In 2016, the Income Tax Department had filed a complaint in a Ludhiana court based on a document that claimed that a company offshore, alleged to be linked with the son of CM, bought a house for £1.8 million in London's Knightsbridge.  

The document was later dismissed by chief minister Amarinder Singh by claiming it to be false and fabricated. Another document produced by I-T in its complaint which dated September 1, 2005, showed a meeting's record between Raninsder Singh, Kuldip Dhingra, his father-in-law, and an HSBC relationship manager.

However, Raninder Singh denied any such meeting.

The authenticity of the document was questioned by CM Amarinder Singh and he also presented 2 authorised letters from HSBC that stated that neither Preneet Kaur nor Raninder Singh ever used the bank's facilities. HSBC's Managing Director had signed those letters. And in 2011, they were also submitted to the authorities of the Income Tax department.

 

 

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