U.K. Opposition calls for freeze of Indian rice tycoon's donation to Conservative Party
The Hindu
It comes after reports from Delhi revealed that the ED conducted search operations on May 2 at 21 locations in India connected to Mr. Chanana, the Indian company Amira Pure Foods and other parties under the Prevention of Money Laundering Act.
Britain's Opposition Labour Party is calling for a freeze on the money donated by an Indian rice tycoon to the governing Conservative Party while he is under investigation by the Enforcement Directorate (ED) in India on fraud and money laundering allegations.
Karan Chanana, head of the global rice brand Amira, is being investigated by ED over claims that bank loans were unlawfully diverted into shell entities and is yet to respond to the allegations. He is believed to have donated around GBP 220,000 to the Conservatives through his British company Amira G. Foods since September 2019.
Margaret Hodge, a senior Labour MP and chair of the All Party Parliamentary Group (APPG) on Anti-Corruption and Responsible Tax, told the Guardian newspaper on Saturday that the Tories should establish the source of these funds and freeze the money until the inquiries are completed.
Also read: ED searches 21 locations in ₹1,201 crore bank loan “fraud” case in Delhi and Gurugram
"The Tories have been too dependent on major donors and have not been doing proper checks. They should now be forced to do so by new legislation,” she told the newspaper.
It comes after reports from Delhi revealed that the ED conducted search operations on May 2 at 21 locations in India connected to Mr. Chanana, the Indian company Amira Pure Foods and other parties under the Prevention of Money Laundering Act. Charges are yet to be filed in the case as the ED says further inquiries are continuing.
"Investigations revealed that the accused entities in connivance with each other as well as other related/unrelated entities have illegally diverted loan funds sanctioned by the consortium of banks by way of transferring loan funds into the accounts of various shell entities under the guise of genuine business transactions,” the newspaper quoted an ED statement as saying.
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