In a major development, the Enforcement Directorate has seized assets worth Rs 27 crore of the controversial defence consultant and arms dealer Sanjay Bhandari in connection with the Rs 150 crore black money case.

The seizure by ED includes: 4 properties in Delhi's Panchsheel Shopping Complex, one at Shahpur Jat, Delhi, one residential flat located at Hill View Apartment, Vasant Vihar, New Delhi, one house at South City, Gurugram, a property in Pebble Court and another in Jaypee Greens, Noida. ED has also seized movable properties including jewellery worth Rs 2.27 crore.

The seizure has been made under section 37A of FEMA involving undisclosed assets held by Bhandari abroad .

According to the agency, Bhandari acquired assets worth more than Rs 150 crore outside India, in contravention of FEMA, which includes undisclosed deposits in bank accounts in UAE. Bhandari allegedly bought a flat in Dubai and 2 flats in London with this money.

Earlier, after a notice by the Income Tax Department, a case of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 was filed against Bhandari.

"The investigation revealed that Bhandari had acquired assets worth more than Rs 150 crore outside India, which were not declared for taxation purposes before the Income Tax," said an officer.