New Delhi: The Enforcement Directorate has arrested Baneet Singh Talwar in a money-laundering investigation linked to narcotics allegedly concealed in semi-processed talc and seizures across Delhi, Punjab and Haryana. He was arrested under the Prevention of Money Laundering Act on October 23.
A special PMLA court at Tis Hazari Courts in West Delhi remanded Talwar to five days of ED custody on the same day, the agency said.
The ED investigation stems from an FIR registered by the National Investigation Agency against Harpreet Singh Talwar and others under the Unlawful Activities (Prevention) Act, the Narcotic Drugs and Psychotropic Substances Act and the Indian Penal Code. The NIA has filed six chargesheets in the case, according to the ED.
The agency alleged that an international drug-smuggling syndicate operating from Afghanistan, Pakistan and Dubai generated proceeds from narcotics sales and transferred funds through hawala. Its release said earlier investigation had identified ₹76 crore from illegal narcotics sales allegedly transferred to Afghanistan and used to fund terrorist activities.
The ED said its financial investigation has so far identified total alleged proceeds of crime of ₹89 crore from contraband smuggling. It alleged that drug-sale proceeds were sent to Afghanistan through hawala while goods were received in kind.
Baneet Singh Talwar is the brother of Harpreet Singh Talwar, whom the ED linked to the alleged smuggling network alongside a wanted accused known as Raju Dubai. The agency alleged that Baneet continued to manage and operate business entities under Harpreet’s beneficial control after Harpreet was arrested in the NIA case.
The ED alleged that Baneet provided about ₹55 lakh to M/s Magent India, an entity it said was controlled by Harpreet and involved in narcotics smuggling. It said funds moved through multiple layers of business transactions, including matching and mirror entries, before reaching Baneet.
The agency also alleged that cash deposits were used to finance vehicle purchases in the names of benami entities; those vehicles had been seized earlier. It said proceeds received through Harpreet were also used to acquire immovable properties. Further investigation is underway.
