Amarinder Singh was also found to be an alleged beneficiary of foreign bank accounts maintained by the HSBC Private Bank (Suisse) SA, Geneva and HSBC Financial Services (Middle East) Limited Dubai.
The complaint, for which the prosecution has now being filed under various sections of the Income Tax Act and the Indian Penal Code against Amarinder Singh for allegedly suppressing facts and filing false statements on oath, also alleges that Jacaranda Trust was the beneficial owner of a string of BVI off-shore entities. These are Chillingham Holdings Limited; Allworth Venture Holdings; Limerlock International Limited and Mulwala Holdings Limited.
Interestingly, while there had been no account balance shown against the name of Preneet Kaur as far as the HSBC account details are concerned, IT authorities obtained details of the bank balances maintained by HSBC Private Bank (Suisse) for the four companies in 2006-2007.
Together, the case of the Income Tax is that three bank accounts in the names of Mulwala Holdings; Limerlock International; Chillingham Holdings and Allworth Venture Holdings total $61.7 lakh (Rs 41.9 crore at the present exchange rate).
Properties held by these Trusts — of which Raninder Singh is the settler and Amarinder Singh a beneficiary — have also been a focus of the probe.
(Sourced from agencies, feature image courtesy:oneindia.com)
