Overview

• Filed in a special PMLA court, the chargesheet names art dealer Rajesh Rajpal, his Rare Art Gallery entity, lawyer Vishwang Desai, and two bullion traders tied to Shree Namo Bullion and Manish Gold Palace.
• The ED says a senior executive transferred ₹17.9 crore for 11 works marketed as originals by artists including MF Husain, FN Souza, SH Raza and others, with ₹15.7 crore treated as proceeds of crime after partial refunds.
• Investigators allege the cartel used fabricated authenticity and provenance certificates and claimed royal or official ownership, with 10 paintings purportedly linked to a ‘Maharaja’ later identified as a small-time farmer.
• Probes trace ₹4.91 crore through paper purchases of gold, silver and bullion with cash returns and fake invoices, and the agency reports identifying and seizing about ₹6.47 crore.
• Desai denies involvement in the money trail, saying he only introduced the parties, and the special court is slated to review the chargesheet in October.