Enforcement Directorate (ED) has summoned Raninder Singh, son of former Punjab Chief Minister Capt Amrinder Singh, in connection with its probe against him for alleged forex contraventions and holding of untaxed foreign assets.
Official sources said Raninder has been summoned by the agency at its Chandigarh office to explain the alleged movement of funds to Switzerland and creation of a trust and few subsidiaries in the tax haven of British Virgin Islands.
The said instances have earlier been investigated by the Income Tax department and a case in this regard is currently in court in Punjab. The next hearing in this case is slated for July 26.
When contacted, Raninder said said he has nothing to hide and was willing to cooperate on the issue.
“This was already being looked into by the Income Tax authorities. We have nothing to hide and we will fully cooperate with the Enforcement Directorate,” he said.
The case came to fore when Income Tax department received details of Raninder allegedly holding the offshore account in the alpine nation as part of details received in this regard by the Central Board of Direct Taxes from their French counterparts in 2011.
Sources said ED investigators have gathered necessary documents in this regard from the tax department and the RBI and they suspect alleged “contravention of the Foreign Exchange Management Act” by Raninder and hence require him to join investigations.
Both Raninder and his father Amrinder Singh, a Lok Sabha Member, have denied any wrongdoing and have termed as false these charges made against them.