Latest news with #Satam
Hindustan Times
27-05-2025
- Hindustan Times
PMLA court refuses to discharge red sanders smuggler Ajit Satam
MUMBAI: A special court under the Prevention of Money Laundering Act (PMLA) has rejected the discharge application of alleged red sanders smuggler Ajit Satam, who is facing charges of laundering proceeds from the smuggling of 839 metric tonnes of the endangered wood between 2010 and 2011. Red sanders or red sandalwood is an endangered species found only in south India, especially in Andhra Pradesh. In an order passed on May 15, special judge A C Daga ruled that there was prima facie evidence indicating Satam's involvement in smuggling activities and in laundering the profits generated. The court observed that Satam had 'himself admitted to the generation of proceeds of crime, their layering, and projection as untainted,' in his statement recorded under Section 50 of the PMLA. According to the Enforcement Directorate (ED), Satam allegedly earned ₹40 crore in cash from the illegal trade and later laundered the amount through various financial transactions. He is accused of converting the cash into cheques and RTGS transfers, and depositing the funds into bank accounts to give them the appearance of legitimate income. The ED said he used these laundered funds to acquire luxury vehicles and real estate. The Directorate of Revenue Intelligence (DRI) had seized red sanders consignments weighing 839.4 metric tonnes from locations, including Nhava Sheva, ICD Dighi, and Talegaon. Satam contended in his plea that the seizure was illegal and beyond the jurisdiction of the customs commissioner. His lawyer argued that there was no evidence linking him to the sale proceeds or smuggling operations. However, the ED maintained that there was substantial evidence of his involvement, including his own statements. The court noted that Satam had disclosed exporting approximately 40 containers of red sanders to Dubai and admitted to the use of multiple bank accounts to layer the proceeds of the crime. Rejecting the discharge plea, the court concluded that there was sufficient material to proceed with framing charges and ruled that no case had been made for granting bail.
Time of India
26-05-2025
- Business
- Time of India
Red sanders smuggling case: Court rejects discharge plea
Mumbai: Referring to the statement of the accused Ajit Satam that he had exported approximately 40 containers of Red Sanders to Dubai, generating a profit of around Rs 40 crore, a special PMLA court rejected his discharge plea in a money laundering case. A substantial portion of these cash profits, he admitted, was funneled into legitimate banking channels by providing the cash to one Pramod Kumar. Through his companies and firms, Kumar then transferred equivalent amounts into the Satam's accounts at Cosmos Co-operative Bank Ltd and Ratnakar Co-operative Bank Ltd, the statement said. The accused further admitted to utilizing these funds to purchase and invest in various properties and projects, as well as for the acquisition of an imported vehicle. "During his statement, he has given details of the bank, the amounts in it and has admitted about his involvement in sending red sanders out of India and how he used to do it. He has also stated as to how others have given him cheques and entries on receipt of the cash. As such, prima-facie record goes to show that the accused has been involved in smuggling of red sanders and has generated proceeds of crime," special judge AC Daga said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo It is alleged in the Enforcement Directorate's (ED) complaint that the proceeds of crime were generated out of the smuggling of Red Sanders and subsequently, it was laundered by way of converting into cheques or RTGS and deposited in various accounts and proceeds of crime were layered by depositing the tainted funds into bank accounts by projecting them as genuine and legitimate transaction. In the predicate offence, it is alleged that the DRI officer had seized wooden logs of Red Sanders from Satam owned containers and searched his house. The schedule or predicate offence is the criminal offence on the which the ED basis its money laundering investigations. Seeking discharge, 55-year-old Satam's lawyer submitted that there was no expert report to show that the seized wooden logs were actually red sanders. The lawyer also submitted that seizure of wooden logs from Kolhapur does not come within jurisdiction of the customs. The lawyer also submitted that the Income Tax Returns have been filed showing the income. "The Commissioner of Income Tax (IT), Appeal has passed an order in favour of the applicant accepting the declaration of the income by the applicant to be legal," the lawyer argued. However, the judge said that on the bare perusal of the order, it appeared that the assessee's proposal was accepted by the Commissioner of Income Tax, Appeal with a finding that "However, assessee's proposal is accepted without verifying the source of income mentioned in the proposal." "As such, the order itself is very clear that the source of income was not verified by the Income Tax Authority, and therefore, the accused cannot take advantage of such order," the judge said.
Hindustan Times
12-05-2025
- Politics
- Hindustan Times
Gokhale bridge thrown fully open after 30-month wait
Mumbai: The southern arm of the reconstructed Gopal Krishna Gokhale bridge in Andheri was thrown open to traffic by cultural minister and Mumbai suburban guardian minister Ashish Shelar on Sunday, nearly 30 months after the closure of the bridge in November 2022. The southern arm of the CD Barfiwala flyover, which was misaligned with Gokhale bridge earlier, was simultaneously thrown open to traffic. Local BJP MLA Ameet Satam, widely credited for accelerating the project's progress, shared the spotlight with Shelar during the inauguration ceremony which commenced at 5pm. In a light-hearted remark, the minister suggested that Satam should author a book titled 'Gokhale Bridge: A Success Story', showcasing the reconstruction of the crucial east-west connector as an example of speedy development in the city. Constructed in the 1960s, the Gokhale bridge was declared dilapidated in late 2018 after a portion of it collapsed, claiming two lives, and the Brihanmumbai Municipal Corporation (BMC) conducted a structural audit. Constuction of a new flyover to replace the bridge commenced only in November 2021 and gathered pace after the old bridge was closed to traffic a year later, in November 2022. Recollecting the chain of events on Sunday, Satam pointed to delays under the then Shiv Sena-led civic administration, which he claimed pushed reconstruction back by 20 months. The delay was due to confusion over jurisdiction between the railways and the BMC, he noted. Once work commenced, the Lokhandwala Oshiwara Citizens Association (LOCA) played a key role in ensuring the project's progress by engaging with BMC officials and the local MLA and conducting frequent site visits. Active involvement of Shiv Sena chief Eknath Shinde, who visited the site twice during his term as chief minister, also expedited the work. On February 27, 2024, barley 15 months after the bridge's closure, the northern carriageway of the reconstructed structure was thrown open to traffic. But a controversy erupted soon after due to a 2.8-metre height difference between the new bridge and the adjacent CD Barfiwala flyover. Abhijit Bangar, who assumed office as additional municipal commissioner (projects) in March 2024, took the lead in resolving the issue. The misalignment was corrected in a record 75 days and the northern arm of the Barfiwala connector was opened to traffic in July 2024. 'Despite multiple challenges, including delays by the railways in launching girders, the team worked tirelessly to meet the April 30 deadline,' Bangar said on Sunday, recalling the chain of events. 'In fact, we completed the project four days before the deadline.' The opening of the second carriageways of Gokhale bridge and CD Barfiwala flyover will ease peak-hour congestion on the Western Express Highway and in areas like Juhu, SV Road, and Andheri, Bangar said. While the inauguration was underway, HT saw workers undertaking minor patchwork on the northern arm of CD Barfiwala flyover, which was opened to traffic in July 2024. 'The patchwork was essential to prevent the emergence of potholes,' said an official from BMC's roads department. 'Some scratches were noticed on the flyover due to the stacking of steel girders used for supporting the old Gokhale bridge, which were rectified as per standard practice.' Full resurfacing was not required as the northern carriageway road was still in good condition, the official added. Commuters welcomed the inauguration of the entire Gokhale bridge and Barfiwala flyover, saying it would help cut down travel time significantly. 'With both arms of now open, the bridge serves as a case study in overcoming civic and administrative hurdles through collaborative efforts by citizen and the MLA,' said a commuter.
