DUBAI: Days after reports emerged claiming the UAE’s Financial Intelligence Unit (FIU) had frozen his assets, Dubai-based businessman and Chairman of ANAX Holdings, Satish Sanpal, has issued an official statement denying any official enforcement action.
In an official statement issued on his behalf, Sanpal said that “to date, no competent enforcement or regulatory authority has issued any official announcement or public disclosure concerning the allegations being reported.”
The statement urged publications to “exercise appropriate care in verifying information obtained from unofficial sources before reporting or repeating such information” and directed that any requests for clarification may be sent to his authorised representative for media purposes.
Addressing the business impact of the reports, the statement clarified that “The matters referred to in the recent reports do not affect ANAX Developments’ operations, governance, contractual commitments, financial arrangements or ongoing business activities.”
It added that “all projects, banking arrangements, escrow accounts and business operations remain fully operational.”
The statement concluded that Mr. Sanpal “expressly reserves all rights and remedies available under applicable law in respect of any false, misleading, defamatory or otherwise unlawful publication.”
What the Statement Did Not Address:
While the statement denies any official announcement of a freeze and asserts that ANAX Developments remains operational, it does not specifically address several other allegations cited in recent reports in Indian media.
The statement makes no specific comment on:
1. The reports of 9 cases registered against him in various police stations of Madhya Pradesh and the lookout circular issued against him in 2022.
2. The claim is attributed to Delhi High Court records regarding interim bail in 8 cases and bail proceedings in a ninth case.
3. The reports concerning his Indian passport issued from Dubai in 2018 and his 10-year UAE Golden Visa issued in 2021.
4. The allegations date back to 2022 linking him to IPL online betting cases, including the claim that the arrested accused had named him for providing betting links, and subsequent cases under the Public Gambling Act.
5. The recent complaint seeking a probe into alleged money laundering and online gambling proceeds of Rs 1,000 crore and the accusation of routing funds through shell companies.
No official confirmation or denial regarding the alleged FIU action has so far been issued by UAE authorities.
