Jaipur (Rajasthan) [India], September 5 (ANI): The Directorate of Enforcement (ED) carried out search operations at numerous places throughout Rajasthan in connection to a cash laundering case linked to alleged irregularities within the implementation of the Centre’s Jal Jeevan Mission scheme, officers mentioned on Monday.
ED sleuths carried out searches in cities like Jaipur, Alwar, Neemrana, Behror, and Shahpura, and seized unaccounted money amounting to Rs 2.32 Crore, a 1 Kg gold bar price Rs 64 lakh, and numerous incriminating paperwork, together with digital proof, arduous disks, and cellular units, officers mentioned.
According to an official assertion, the ED’s investigation was initiated based mostly on an FIR registered by the Anti-Corruption Bureau (ACB) in Rajasthan. The case concerned people Padamchand Jain (Proprietor: M/s. Shree Shyam Tubewell Company), Mahesh Mittal (Proprietor M/s Shree Ganpati Tubewell Company), and others.
They had been suspected of providing bribes to public servants to achieve unlawful safety, safe tenders, get hold of invoice approvals, and canopy up irregularities associated to work executed in numerous tenders issued by the Public Health and Engineering Department (PHED).
During the search operations, the ED seized unaccounted money amounting to Rs 2.32 Crore, a 1 Kg gold bar price Rs 64 lakh, and numerous incriminating paperwork, together with digital proof, arduous disks, and cellular units. These findings counsel in depth transactions carried out by the suspects in collusion with PHED officers.
The Directorate of Enforcement (ED) has taken a step within the case of alleged cash laundering involving M/s GDS Builders Pvt. Ltd., its director Uma Sankar Patro, and others.
Properties amounting to roughly Rs 19.67 Crores have been provisionally hooked up underneath the Prevention of Money Laundering Act, 2002 (PMLA).
This contains movable property similar to financial institution balances and mutual fund balances totalling Rs 9,49,657, together with 57 immovable property valued at Rs 19,57,73,370, positioned in Puri and Bhubaneswar.
The investigation was initiated by the ED based mostly on three FIRs registered by the Anti-Corruption Bureau (ACB), Central Bureau of Investigation (CBI), Bhubaneswar, underneath numerous sections of the Indian Penal Code (IPC) and the Prevention of Corruption Act.
These circumstances had been filed in opposition to Uma Shankar Patro, the Director of M/s GDS Builders Pvt. Ltd., three officers from the United Bank of India (UBI) Nayapalli Branch in Bhubaneswar, and personal particular person debtors. Subsequently, chargesheets had been filed by the CBI.
The ED’s investigation uncovered a conspiracy involving the accused financial institution officers of UBI, who collaborated with Uma Shankar Patro and the debtors in acquiring housing loans in 2017.
It was revealed that Uma Shankar Patro, together with relations, misappropriated roughly Rs 18.79 Crore of public cash.
Furthermore, Uma Sankar Patro, by means of his jewelry agency M/s. Dwarka Jewellers, dedicated fraud within the Cash Credit mortgage obtained from Indian Bank (previously Allahabad Bank), Bhubaneswar, inflicting a big monetary lack of Rs 7.14 Crore to the financial institution. These funds had been allegedly laundered by Uma Sankar Patro by means of the financial institution accounts of M/s. GDS BuildersPvt. Ltd.
Earlier, on May 18, 2023, the ED performed searches at eight premises related to Uma Shankar Patro and associated people. During these operations, money amounting to Rs 15 Lakhs, gold jewelry weighing 1.978 Kgs (valued at Rs 1.30 Crore), incriminating paperwork, and digital units had been seized.
The investigation into this cash laundering case is ongoing.
ED has seized 9 immovable properties positioned in Maharashtra and Karnataka, with a complete estimated worth of8377;65.53 Crore, underneath the provisions of the Foreign Exchange Management Act (FEMA), 1999, based on a submit on X by ED. This motion is a part of an investigation associated to unlawful remittances made by M/s Venkateshwara Hatcheries Pvt Ltd (M/s VHPL) to its wholly owned subsidiary, M/s Venky’s Overseas Limited (M/s VOL), UK, since 2011. The ED’s investigation revealed that M/s VHPL falsely declared the enterprise of M/s VOL to the Reserve Bank of India (RBI) as Agriculture and Mining (rearing of geese, hens, and so on.).
However, regardless of greater than 11 years since its incorporation, M/s VOL by no means initiated any such enterprise exercise. It was discovered that funds remitted by M/s VHPL to M/s VOL had been primarily used for the acquisition of an immovable property named “Alexander House” within the United Kingdom.
This property, spanning 90 acres, was acquired by M/s VOL with funds remitted by M/s VHPL.
The investigation established that M/s VHPL didn’t intend to conduct real enterprise by means of its subsidiary, M/s VOL, and had created it as a entrance to accumulate immovable property within the UK for the advantage of administrators, staff, and relations of M/s VHPL.
Consequently, the equal worth of properties held in India has been seized underneath Section 37A of FEMA. The investigation into this case is ongoing. (ANI)