The Enforcement Directorate (ED) on Saturday said that they have filed prosecution complaint (Charge sheet) under the provisions of the Prevention of Money Laundering Act, (PMLA) against Luxmi Auto Industries and its partners Satish Kumar Gupta and Parminder Singh, and officials of the Central Bank of India.
The ED has accused Central Bank of India officials Sharwan Kumar Singhal, then assistant manager, Avdhesh Kumar Gupta, then branch manager, for causing wrongful loss to the bank.
The charge sheet was filed before District & Sessions Judge, Dehradun court. The court after examining the charge sheet took cognizance of the matter and posted it for the next date of hearing.
The ED initiated money laundering investigation on the basis of the FIR and charge sheet filed by the the CBI, against the accused under various sections of the IPC.
The ED learnt in the investigation that the accused persons in connivance with the bank officials availed loan to the tune of Rs 1.71 crore for establishing a manufacturing unit of nuts and bolts in the name and style of Luxmi Auto Industries on the basis of forged documents. The loan availed by the accused was not used for the specified purpose. Thus, by resorting to conspiracy and cheating, the accused persons caused loss to the bank and wrongful gain to themselves.
Total loan fraudulently availed was Rs 1.71 crore and after initiation of money laundering investigation, accused did one time settlement of Rs 1.38 crore.
The ED has accused Central Bank of India officials Sharwan Kumar Singhal, then assistant manager, Avdhesh Kumar Gupta, then branch manager, for causing wrongful loss to the bank.
The charge sheet was filed before District & Sessions Judge, Dehradun court. The court after examining the charge sheet took cognizance of the matter and posted it for the next date of hearing.
The ED initiated money laundering investigation on the basis of the FIR and charge sheet filed by the the CBI, against the accused under various sections of the IPC.
The ED learnt in the investigation that the accused persons in connivance with the bank officials availed loan to the tune of Rs 1.71 crore for establishing a manufacturing unit of nuts and bolts in the name and style of Luxmi Auto Industries on the basis of forged documents. The loan availed by the accused was not used for the specified purpose. Thus, by resorting to conspiracy and cheating, the accused persons caused loss to the bank and wrongful gain to themselves.
Total loan fraudulently availed was Rs 1.71 crore and after initiation of money laundering investigation, accused did one time settlement of Rs 1.38 crore.
"Accordingly, remaining proceeds of the crime of Rs 33 lakh was attached as per provisions of the PMLA," said the ED official.