https://www.taxtmi.com/news?id=41015 The Enforcement Directorate alleges a money laundering scheme whereby office holders converted a loan into equity and transferred 99% of AJL's shares to a private company for nominal consideration, thereby creating beneficial ownership of AJL's assets. The complaint invokes the Prevention of Money Laundering Act, asserts vicarious liability of company officers, identifies proceeds of crime and attached assets, relies on a tax assessment to allege related tax evasion, and notes lack of charitable activity in the transferee entity. en-us Tue, 15 Apr 2025 21:46:03 +0530 Tue, 15 Apr 2025 21:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=41015 The Enforcement Directorate alleges a money laundering scheme whereby office holders converted a loan into equity and transferred 99% of AJL's shares to a private company for nominal consideration, thereby creating beneficial ownership of AJL's assets. The complaint invokes the Prevention of Money Laundering Act, asserts vicarious liability of company officers, identifies proceeds of crime and attached assets, relies on a tax assessment to allege related tax evasion, and notes lack of charitable activity in the transferee entity. News - Tue, 15 Apr 2025 21:46:03 +0530 https://www.taxtmi.com/news?id=41015