ED attaches properties worth Rs 4 crore in PMLA case
The Enforcement Directorate (ED) has provisionally attached properties worth Rs 4.08 crore under the provisions of Prevention of Money Laundering Act (PMLA) in a case against Maa Bijasen Agro Infrastructure Warehouse, Morena, Madhya Pradesh.
IANS
Oct 6, 2023 11:21
0
New Delhi, Oct 6 (IANS) The Enforcement Directorate (ED) has provisionally attached properties worth Rs 4.08 crore under the provisions of Prevention of Money Laundering Act (PMLA) in a case against Maa Bijasen Agro Infrastructure Warehouse, Morena, Madhya Pradesh.
According to ED officials, the attached immovable properties are in the form of a warehouse in the name of Ravindra Kumar Sharma worth Rs. 2.65 crore, and a house in the name of Sangeeta Sharma and Utsav Sharma worth Rs 1.43 crore.
“ED initiated investigation on the basis of an FIR registered by the CBI, ACB Bhopal against Ranjan Kumar Sinha, then chief manager of UCO Bank, Morena branch, and Ravindra Kumar Sharma and Sangeeta Sharma, partners and owners of Maa Bijasen Agro Infrastructure Warehouse,” said an ED official.
ED investigation has revealed that the warehouse owners fraudulently availed 22 warehouse receipt loans from UCO Bank, Morena, by presenting warehouse receipts (without underlying stocks) in the name of different persons and misappropriated bank’s fund and defrauded UCO Bank to the tune of Rs 10.70 crore.
“Further, the loan amounts were diverted to various other accounts and were finally withdrawn in cash and used for purchase of property,” the official said.
