Talwar is being probed by CBI and ED in an alleged aviation scandal.
The Enforcement Directorate (ED) claims to have unearthed laundering of Rs 160 crore done by Talwar.
In one of its remand applications filed by ED before the Court, the agency had alleged that Talwar received “huge amounts of tainted money” from various foreign entities. These included money received from Air Arabia/ Qatar airways to Asiafield Limited, a Singapore based company allegedly owned by Talwar and his son.
The funds were moved, claimed ED’s remand paper, from Air Arabia/Qatar Airways etc. to Asiafield Limited, then to Wave Impex Pvt Ltd and then to Wave Hospitality Pvt Ltd. All these entities were beneficially owned and operated by Deepak Talwar and his family members, ED had claimed.
Talwar has repeatedly denied accusations of wrongdoings levelled against him.
ED had alleged “the layering and laundering” of funds in these entities is continuing till date since 2008. The agency had further said “funds around Rs 160 crores laundered through entities such as Asiafield Limited, Gilt Asset Management Ltd are projected as untainted in M/s Wave Hospitality Pvt Ltd. which is an Indian company and holds Hotel Holiday Inn in Aerocity, Delhi”.
Talwar is accused of receiving Rs 212 crores as kickbacks for acting as a middleman in paying kickbacks to public servants and politicians to make AirIndia give up profitmaking routes and timings in favour of local and foreign private airlines.
The agency further alleges that Talwar’s NGO Advantage India was used as a “tool for huge tax evasion”. It further said “it was found that Advantage India was used to route commission/kickbacks received from foreign companies like Airbus/Isolux Corsan disguised as donation for charity and for CSR activities. However, the money so received has been siphoned off by booking huge bogus expenses under various heads in its books of accounts”.
The agency has claimed that its investigation has revealed “Advantage India” is shown to have “received total Rs 174.40 crores as donation and CSR (corporate social responsibility) contribution mainly from Airbus which is nothing but payment to Deepak Talwar in lieu of deals of Airbus with Air India. Therefore, the payment received from Airbus/Isolux Corsan (a US company) should be taxed in the hands of Deepak Talwar”.
