Team Goemkarponn
PANAJI: The Enforcement Directorate (ED), Mumbai Zonal Office, has provisionally attached 13 movable and immovable assets worth approximately ₹13.44 crore in Mumbai, Goa and Madhya Pradesh in connection with an alleged money laundering case involving Barnadiet Bharat Varma, Bharatkumar Shankarlal Varma and others.
The action has been taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
According to the ED, the investigation was initiated on the basis of an FIR registered by the Mumbai Police under various sections of the Bharatiya Nyaya Sanhita (BNS), 2023.
The investigation allegedly revealed that Barnadiet Bharat Varma, who was working as Deputy Secretary (Finance) at the United Services Club, along with her husband Bharatkumar Shankarlal Varma, diverted around ₹77 crore into various fake/dummy bank accounts opened in the names of individuals resembling the names of regular members of the United Services Club and the club’s US Club accounts.
The ED said the funds, which allegedly represented proceeds of crime, were subsequently transferred to the personal and joint bank accounts of Barnadiet Varma, Bharat Varma and their family members/associates.
The agency further alleged that the accused used the proceeds of crime to acquire several immovable properties and also invested part of the funds in fixed deposits with different banks.
As part of the alleged money trail, around ₹11 crore was transferred to the bank account of M/s Jyotirmay Foundation (Trust). The funds were subsequently transferred to accounts associated with Chand Prakash Pandey, his family members and chartered accountants allegedly connected with the United Services Club.
The ED said its investigation had earlier resulted in the seizure of 35 properties valued at approximately ₹34.51 crore on March 20, 2026.
With the latest action, the agency has provisionally attached another 13 assets valued at around ₹13.44 crore. The investigation into the alleged diversion and utilisation of funds is continuing.
