CHANDIGARH/NOIDA – The Enforcement Directorate has dropped a major hammer in the disproportionate assets case linked to retired IAS officer M.L. Tayal, once a powerful Principal Secretary to the then Chief Minister of Haryana and later a Member of the Competition Commission of India (CCI).
On June 30, the ED provisionally attached nine prime properties—two houses and seven high-end apartments—in Chandigarh, New Delhi and Gurgaon, alongside bank balances worth ₹14.06 crore, under the Prevention of Money Laundering Act (PMLA), 2002.
But the real shocker came four days later.
On July 4, ED sleuths raided three suspected shell companies—Kindent Business Solutions Pvt. Ltd., Rainet Technology Pvt. Ltd., and Mool Business Solutions Pvt. Ltd.—operating from Noida and Lucknow.
These companies are suspected to be fronts for routing and laundering crores in black money linked to the former bureaucrat’s network.
The agency seized a trove of incriminating documents, digital devices, and electronic records, revealing a staggering financial web. So far, 116 bank accounts tied to these firms have been frozen.
Out of these, ₹103 crore has already been restrained from 16 accounts, a figure expected to rise as the investigation deepens.
According to ED sources, these entities were allegedly used to layer illicit funds and conceal assets disproportionate to known sources of income during Tayal's powerful tenure.
The noose seems to be tightening around what ED insiders call a "classic example of post-retirement laundering" where influence and insider access were allegedly monetized and masked through a maze of corporate fronts.
The agency is now piecing together the money trail and identifying more beneficiaries.
Tayal, who once wielded immense clout in the Haryana power corridors, now finds himself under the scanner of India’s top financial crime agency.
The ED's move signals a clear message: no chair is too big, no trail too cold.
#CorruptionCrackdown #EDAction #ShellFirmsExposed #IASUnderScanner
