Latest news with #Attachment
Hans India
5 days ago
- Business
- Hans India
ED restores assets worth Rs 3.82 crore to Waqf Board
Bengaluru: In a significant move to restore the Proceeds of Crime (POC) to the rightful claimants, the Enforcement Directorate (ED), Bengaluru Zonal Office, has taken a significant step by releasing properties valued at Rs 3.82 crore to the Karnataka Waqf Board in a money laundering case. The money from the Waqf Board released for fixed deposits was utilised to purchase a Mercedes-Benz car, and a further amount was transferred to a trading corporation. According to an official statement of the ED issued on Tuesday, the agency initiated an investigation on the basis of an FIR filed against two Vijaya Bank officials and Syed Siraj Ahmed, a First Division Assistant with the Waqf Board. In this case, the Waqf Board issued two cheques amounting to Rs 4,00,45,465 to open Fixed Deposit accounts at Vijaya Bank. However, instead of opening the fixed deposits, the money was siphoned off by transferring it to fictitious entities, the ED stated. Further, Rs 4 crore was transferred to M/s. Verkeys Realities Pvt Ltd, which spent Rs 1.10 crore purchasing a Mercedes car from Ghatge Motors Pvt Ltd. Further, Rs 2,72,74,444 was transferred back to the account of M/s. Ajay Sharma Trading Corporation, the ED stated. Upon uncovering these illicit financial transactions and the proper money trail of Proceeds of Crime (POC), the ED issued a Provisional Attachment Order (PAO) totalling Rs 3,82,74,444, the ED said. On March 31, 2017, ED filed a Prosecution Complaint (PC) before the Special PMLA Court in Bengaluru, against six individuals and entities, including M/s. Verkeys Realities Pvt Ltd, the statement said. In line with the PMLA and its core objective of ensuring the restitution of POC to the legitimate victims, the ED did not raise any objections when the Additional Sessions Judge considered the release of the funds to the Karnataka State Wakf Board—the rightful claimant in this case, the ED said. On July 1, 2025, in a further demonstration of its commitment to justice, ED facilitated the release of the entire amount. A banker's cheque of Rs 3,82,74,444 was handed over to Jeelani H. Mokashi, CEO (Additional Charge), of the Karnataka State Wakf Board, the ED said. This marks a significant step forward in the ED's ongoing mission to restore the misappropriated funds to those who have been wronged, the ED said. This release underscores the ED's commitment to ensuring justice for victims of financial crimes. ED remains resolute in its dedication to combating money laundering and ensuring that the Proceeds of Crime are returned to their rightful owners, the ED stated.
Indian Express
5 days ago
- Business
- Indian Express
ED Surat restitutes Rs1.85 crore to SBI in Rs12.12 crore bank ‘fraud' case
The Enforcement Directorate's (ED) Surat Sub Zonal Office has restituted movable properties worth Rs 1.85 crore, including accumulated interest, to the State Bank of India (SBI) in connection with Rs 12.12 crore bank fraud case, registered under the Prevention of Money Laundering Act (PMLA) against M/s Sai Parsad Organics Pvt Ltd and others, said a statement on Wednesday. This restitution of attached properties under the provisions of the PMLA, was made in accordance with the order passed by the Special PMLA Court, Ahmedabad Rural. According to the statement, the ED had initiated its investigation into the matter on the basis of an FIR registered by the Central Bureau of Investigation (CBI), Bank Securities & Fraud Cell (BS&FC), Mumbai, on January 29, 2010. 'Investigation revealed that Manoj Kumar Gupta, formerly the Chief Manager, State Bank of India, Salabatpura Branch, had by his acts of omission and commission fraudulently discounted Letter of Credit in favour of M/s Sai Prasad Organisers Pvt Ltd based on fake documents and transferred Rs 12.12 crore in the account of M/s Sai Prasad Organics Pvt Ltd during the period from October 8, 2009, to October 30, 2009,' said the ED statement. During the course of investigation, Proceeds of Crime amounting to Rs1.16 crore had been attached by the Enforcement Directorate vide Provisional Attachment Order (PAO) dated March 25, 2015 and the adjudicating authority, PMLA, New Delhi, confirmed the said PAO vide its order dated July 6, 2015. Further, a prosecution complaint was also filed before the Special PMLA Court, Ahmedabad, against Manoj Kumar Gupta and others. During the course of trial, an application under the PMLA, seeking restitution of the attached movable properties was filed before the court by the SBI which was not objected to by the ED, as per the statement. Accordingly, the Special PMLA Court, Ahmedabad, allowed the restitution, enabling the return of said valuable assets to the rightful claimant bank, according to the statement.
India Gazette
6 days ago
- India Gazette
ED releases Rs 3.82 cr assets to Karnataka State Waqf Board in money laundering case
New Delhi [India], July 8 (ANI): In a significant move to restore the Proceeds of Crime (POC) to the rightful claimants, the Directorate of Enforcement (ED), Bengaluru Zonal Office, has taken a significant step by releasing properties valued at Rs 3.82 crore to the victims of money laundering and the legitimate claimants in the case of Shusheela Chintamani & Others, currently under investigation by the ED, the agency said. According to the ED, it initiated investigation on the basis of an FIR filed against two Vijaya Bank officials and Syed Siraj Ahmed, a First Division Assistant with the Waqf Board. In this case, the Waqf Board issued two cheques amounting to Rs 4,00,45,465/- to open Fixed Deposit accounts at Vijaya Bank. However, instead of opening the fixed deposits, the money was siphoned off by transferring to fictitious entities. Further, Rs 4 Crore was transferred to M/s. Verkeys Realities Pvt. Ltd., which spent Rs 1.10 Crore purchasing a Mercedes car from Ghatge Motors Pvt. Ltd. Further, Rs 2,72,74,444/- was transferred back to the account of M/s. Ajay Sharma Trading Corporation, the agency said. The Enforcement Directorate said that upon uncovering these illicit financial transactions and a proper money trail of Proceeds of Crime (POC), ED issued a Provisional Attachment Order (PAO) totalling Rs 3,82,74,444/-. On March 31, 2017, ED filed a Prosecution Complaint (PC) before the Special PMLA Court in Bengaluru, against six individuals and entities, including M/s. Verkeys Realities Pvt. Ltd. In line with the PMLA and its core objective of ensuring the restitution POC to the legitimate victims, the ED did not raise any objections when the Additional Sessions Judge considered the release of the funds to the Karnataka State Waqf Board, the rightful claimant in this case, the agency said. On July 1, 2025, in a further demonstration of its commitment to justice, ED facilitated the release of the entire amount. A banker's cheque of Rs 3,82,74,444/- was handed over to Jeelani H. Mokashi, CEO (Additional Charge), of the Karnataka State Waqf Board. This marks a significant step forward in the ED's ongoing mission to restore the misappropriated funds to those who have been wronged, the ED said. This release underscores the ED's commitment to ensuring justice for victims of financial crimes. ED remains resolute in its dedication to combating money laundering and ensuring that the Proceeds of Crime are returned to their rightful owners, the agency emphasised. (ANI)
India Gazette
11-06-2025
- India Gazette
ED arrests two former Haryana Shahari Vikas Pradhikaran officials in money laundering case
New Delhi [India], June 11 (ANI): The Enforcement Directorate (ED) has arrested two former officials of Haryana Shahari Vikas Pradhikaran (HSVP) (erstwhile known as HUDA) in a money laundering case, the agency said on Wednesday. ED's Chandigarh Zonal Office arrested Sunil Kumar Bansal and Ram Niwas, the two former officials of HSVP on June 9 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in the case of misappropriation of public funds in HSVP bank accounts. During the period 2019-2024, Ram Niwas was also MLA from Haryana, said the ED in a statement. ED initiated an investigation on the basis of a First Information Report (FIR) registered by Sector-7, Panchkula (Haryana Police) against unknown persons. This FIR was registered on the basis of a complaint filed by the Drawing and Disbursing Officer (DDO) of HSVP. 'Vide this complaint, HSVP reported that a fraud and financial loss have been committed through a bank account of HSVP maintained with Punjab National bank (PNB), Chandigarh,' ED mentioned in the statement. As per FIR, during 2015 to 2019, debit transactions amounting to Rs 70 crore (approximately) were repeatedly released in favour of some particular parties for no apparent reason from the said bank account of HSVP, causing a loss of Rs 70 crore to HSVP. During an internal enquiry of HSVP, ED said, 'It was found by HSVP that no such bank account was reflected in the cash branch or IT wing of HSVP, meaning thereby that HSVP was defrauded by Sunil Kumar Bansal and Ram Niwas in a clandestine manner.' 'During the course of the investigation, it is revealed that fraud is not limited to one bank account or just to Rs 70 crore but is very huge, which has been committed by Sunil Kumar Bansal and Ram Niwas.' ED has attached properties amounting to Rs 21 crore by issuing three Provisional Attachment Orders (PAO). Out of the attached properties amounting to Rs 18.06 crore, are confirmed by Adjudicating Authority, PMLA, New Delhi. After the arrest of Sunil Kumar Bansal and Ram Niwas, the Additional District and Sessions Court, Panchkula, has granted a custodial remand of five days to ED, added the agency. (ANI)
Time of India
29-04-2025
- Time of India
ED attached 24 properties worth Rs 193cr in land grab case
Panaji: The directorate of enforcement ( ED ) in Panaji provisionally attached 24 immovable properties on Tuesday, located across Bardez, including Calangute, Assagao, Anjuna, Nerul, and Parra. These properties are worth over Rs 193 crore and connected with the alleged land grab cases in Goa. With this, the total value of attached properties in the Goa land grab case stands at Rs 232.7 crore to date. The Provisional Attachment Order (PAO) was issued under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. This is the second provisional attachment in this case. Earlier, the ED attached 31 properties valued at Rs 39.2 crore in 2023, which was confirmed by the Adjudicating Authority (PMLA), New Delhi, on April 15, 2024. The ED initiated the investigation based on multiple FIRs registered by the special investigation team (SIT) of Goa probing land grab cases. Goa police arrested several people for the fraudulent and illegal acquisition of land in Goa through forgery, cheating, and grabbing of immovable properties. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mosquito-Free Gujarat? Locals Swear By This Breakthrough Device Insect Guard Click Here Undo The ED investigation revealed that fraudsters created forged documents and deeds in the names of deceased individuals or ancestors. Using these forged documents as genuine, they fraudulently inserted their names or the names of associates into the land records maintained by govt of Goa. 'Subsequently, these illegally acquired properties were either sold to third parties, generating proceeds of crime, or transferred to associates through sham sale deeds without actual payment of consideration,' ED said. 'The 24 attached properties in the current PAO include properties sold to third parties, properties transferred to associates via sham deeds, and other properties identified subsequently, located in prime tourist hotspots in Bardez Taluka,' ED said. A prosecution complaint was also filed on April 12, 2024, before the special court (PMLA), Mapusa, which has taken cognisance of the same.
