THE NEWS DOSE DESK
Chandigarh | June 25,UPDATED:5.20 PM
In a major breakthrough in the ongoing crackdown on drug-linked financial crimes, a joint investigation by the Special Investigation Team (SIT) and the Punjab Vigilance Bureau (VB) has uncovered a massive network of money laundering allegedly facilitated by senior Akali Dal leader and former Punjab minister Bikram Singh Majithia.
According to an official spokesperson of the Vigilance Bureau, preliminary findings indicate that over ₹540 crore in illicit funds—believed to be proceeds from the drug trade—were laundered through various shell companies, offshore channels, and unaccounted cash transactions. Majithia, who was arrested following searches at his residence, is accused of playing a central role in orchestrating this large-scale operation during his tenure as a cabinet minister in the previous Punjab government.
Key Findings of the Investigation:
₹161 crore in unaccounted cash was found to have been deposited into bank accounts of companies directly or indirectly controlled by Majithia.
Another ₹141 crore was routed through suspicious foreign entities, raising concerns of hawala operations and international drug syndicate linkages.
An excess amount of ₹236 crore was deposited in various corporate accounts without any explanation or disclosure in official financial statements—pointing towards serious violations of financial regulations and tax laws.
Majithia is also alleged to have acquired substantial movable and immovable properties without providing any legitimate source of income.
The findings are based on a probe linked to FIR No. 02 dated December 20, 2021, registered under sections 25, 27-A, and 29 of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, at the Punjab State Crime Police Station, SAS Nagar.
Officials said the SIT and VB teams conducted extensive searches at three key locations and questioned 22 individuals connected to Majithia’s financial network. During these operations, investigators seized: Over 30 mobile phones,Five laptops, three iPads, and two desktop computers, Several diaries and property-related documents
Files pertaining to Saraya Industries, a firm reportedly used as a front for laundering drug money. The Vigilance Bureau asserted that Majithia’s arrest was conducted strictly as per legal procedures and that all evidence collected so far is being compiled for submission in the appropriate court.
Assets in Name of Family Members Under Lens
The scope of the investigation also includes assets registered under the name of Majithia’s wife, Genieve Kaur, which have reportedly seen a sharp and unexplained rise over the years. Officials suspect these assets may have been acquired using laundered funds, and have been unable to trace any lawful source of income to justify the purchases.
Investigation to Continue; More Arrests Likely
The Vigilance Bureau has made it clear that the case is far from closed. “This is just the beginning. The evidence is voluminous, and the financial trail is complex,” a senior VB official said. Further searches, arrests, and seizures are expected as the probe deepens.
Authorities have vowed to take the investigation to its logical end by presenting all collected evidence before a court of competent jurisdiction. The case is likely to have far-reaching political and legal consequences in Punjab, particularly for the Shiromani Akali Dal, with Majithia being a close relative of party president Sukhbir Singh Badal.
According to an official spokesperson of the Vigilance Bureau, preliminary findings indicate that over ₹540 crore in illicit funds—believed to be proceeds from the drug trade—were laundered through various shell companies, offshore channels, and unaccounted cash transactions. Majithia, who was arrested following searches at his residence, is accused of playing a central role in orchestrating this large-scale operation during his tenure as a cabinet minister in the previous Punjab government.
Key Findings of the Investigation:
₹161 crore in unaccounted cash was found to have been deposited into bank accounts of companies directly or indirectly controlled by Majithia.
Another ₹141 crore was routed through suspicious foreign entities, raising concerns of hawala operations and international drug syndicate linkages.
An excess amount of ₹236 crore was deposited in various corporate accounts without any explanation or disclosure in official financial statements—pointing towards serious violations of financial regulations and tax laws.
Majithia is also alleged to have acquired substantial movable and immovable properties without providing any legitimate source of income.
The findings are based on a probe linked to FIR No. 02 dated December 20, 2021, registered under sections 25, 27-A, and 29 of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, at the Punjab State Crime Police Station, SAS Nagar.
Officials said the SIT and VB teams conducted extensive searches at three key locations and questioned 22 individuals connected to Majithia’s financial network. During these operations, investigators seized: Over 30 mobile phones,Five laptops, three iPads, and two desktop computers, Several diaries and property-related documents
Files pertaining to Saraya Industries, a firm reportedly used as a front for laundering drug money. The Vigilance Bureau asserted that Majithia’s arrest was conducted strictly as per legal procedures and that all evidence collected so far is being compiled for submission in the appropriate court.
Assets in Name of Family Members Under Lens
The scope of the investigation also includes assets registered under the name of Majithia’s wife, Genieve Kaur, which have reportedly seen a sharp and unexplained rise over the years. Officials suspect these assets may have been acquired using laundered funds, and have been unable to trace any lawful source of income to justify the purchases.
Investigation to Continue; More Arrests Likely
The Vigilance Bureau has made it clear that the case is far from closed. “This is just the beginning. The evidence is voluminous, and the financial trail is complex,” a senior VB official said. Further searches, arrests, and seizures are expected as the probe deepens.
Authorities have vowed to take the investigation to its logical end by presenting all collected evidence before a court of competent jurisdiction. The case is likely to have far-reaching political and legal consequences in Punjab, particularly for the Shiromani Akali Dal, with Majithia being a close relative of party president Sukhbir Singh Badal.