INDORE/UJJAIN: In a major action under the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate (ED) on Wednesday provisionally attached immovable assets worth ₹50.80 lakh belonging to former Employees’ Provident Fund Organisation (EPFO) enforcement officer Shyamlal Akhand and his family members. The attachment stems from allegations of bribery and accumulation of disproportionate assets during Akhand’s service tenure between 2009 and 2019.
Bribery, Disproportionate Assets Trigger ED Action
The ED said the former official abused his authority by soliciting and accepting illegal gratification during his postings, allowing him to amass wealth far beyond his legitimate income. The ongoing investigation revealed that the “proceeds of crime” were invested in acquiring agricultural and residential properties.
The attached properties include an agricultural land parcel in Nalwa village of Ujjain district, registered jointly under the names of Akhand’s wife and son, and a residential plot in Emerald City, Jakhya village in Indore district, in Akhand’s name.
Akhand, in his defence, claimed his earnings were derived from his official salary, rental income, agricultural proceeds, and income from his wife’s embroidery and stitching business. However, investigators noted he failed to produce any documentary evidence supporting his wife’s business or any tax filings related to those claimed income sources.
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Source of Funds Under Scrutiny
Further scrutiny of multiple bank accounts belonging to Akhand and his family revealed unexplained and substantial cash deposits, indicating possible layering and integration of illicit earnings.
The current ED case is based on two FIRs previously filed by the Central Bureau of Investigation (CBI)—one relating to bribery and another involving possession of assets disproportionate to known sources of income. These form the predicate offences under the PMLA, justifying the provisional attachment.
The agency clarified that the attachment is provisional and subject to confirmation by the Adjudicating Authority under the PMLA.
About the Author – Sahhil Taware is a B.Sc. LL.B. (Hons.) student at National Forensic Sciences University, Gandhinagar, with a keen interest in corporate law and tech-driven legal change.
