Close X
Thursday, November 28, 2024
ADVT 
India

ED freezes cash, bank balances worth Rs 45cr after searches at 14 locations

Darpan News Desk IANS, 04 Dec, 2023 12:35 PM
  • ED freezes cash, bank balances worth Rs 45cr after searches at 14 locations

New Delhi, Dec 4 (IANS) The Enforcement Directorate (ED) on Monday said it has frozen cash, bank balance and shares worth more than Rs 45 crore after it recently carried out searches at 14 locations in Mumbai and Chennai in a money laundering case linked to alleged misappropriation of Rs 129 crore.

The ED, in a statement, said that it carried out searches at 14 locations on November 29-30 and the focus of the action was on Ramprasath Reddy, a former employee of Gateway Office Parks Private Limited (formerly Shriram Properties and Infrastructure Private Limited), which was acquired by global fund house Xander in 2017.

It said some other entities controlled by the Pukhraj Jain family (Salem Stainless Steel Suppliers Private Limited, Four Star Estates LLP, M/s High Hills LLP), and those controlled by Rajesh alias Saravanan Jeevanandam (JKS Constructions, Suyambhu Projects, SK Traders, SV Infrastructure, GR Projects and Karthik Traders) were also covered during the searches.

The ED case is based on the FIR registered by CCB, Chennai against Reddy and others. The FIR was lodged on the grounds of siphoning of Rs 129 crore, as per the complaint lodged by M/s Gateway Office Parks Private Limited, Chennai.

The ED said that its probe revealed that Reddy orchestrated the misappropriation of Rs 129 crore through his family-owned entities.

"The funds were diverted through the mentioned entities under the pretext of payments for the supply of goods and services, leveraging the issuance of counterfeit invoices," it said.

The ED said that the search operations led to the detection of undisclosed cash or Indian currency, bank balance, and shares.

“The movable properties worth totalling to more than Rs 45 crore were frozen under section 17(1A) of the PMLA, 2002," the ED said.

It said that the high-end apartments in Mumbai and Chennai, along with other properties obtained through the proceeds of crime, were identified, and pertinent documents were seized.

MORE India ARTICLES

Sentiments of cadre against AAP in Punjab, says Congress

Sentiments of cadre against AAP in Punjab, says Congress
The Leader of the Opposition in Punjab Partap Singh Bajwa on Wednesday categorically said the sentiments of Congress cadre are in favour of contesting the forthcoming Lok Sabha election in 2024 alone, without an alliance with the Aam Aadmi Party. Congress leader Bajwa said the high command had given the freedom to the state unit to assess the mood of the people of Punjab, cadre and workers.

Sentiments of cadre against AAP in Punjab, says Congress

Delhi: CISF arrests man at IGI with pistol

Delhi: CISF arrests man at IGI with pistol
A man was apprehended at Indira Gandhi International (IGI) Airport with a pistol by CISF official on Wednesday. The CISF official said that the suspect was detained based on profiling near departure gate No. 5 of Terminal-3 at IGI Airport.

Delhi: CISF arrests man at IGI with pistol

Punjab CM inaugurates flight from Hindon to Ludhiana

Punjab CM inaugurates flight from Hindon to Ludhiana
Punjab Chief Minister Bhagwant Singh Mann on Wednesday inaugurated to and fro flight from Hindon to Ludhiana, resuming air traffic from the Ludhiana airport after a gap of more than two years. He announced that for initial three months air travel fare from Ludhiana to National Capital Region (NCR) will be merely Rs 999.

Punjab CM inaugurates flight from Hindon to Ludhiana

PM Modi leaves for Jakarta to participate in ASEAN Summit, East Asia Summit

PM Modi leaves for Jakarta to participate in ASEAN Summit, East Asia Summit
Prime Minister Narendra Modi on Wednesday left for his visit to Indonesia’s Jakarta to attend the 20th ASEAN-India Summit and 18th East Asia Summit on September 7. ASEAN is considered one of the most influential groupings in the region, and India and several other countries including the US, China, Japan and Australia are its dialogue partners.

PM Modi leaves for Jakarta to participate in ASEAN Summit, East Asia Summit

V-P Dhankhar, LS Speaker extend Teachers' Day greetings

V-P Dhankhar, LS Speaker extend Teachers' Day greetings
Vice President Jagdeep Dhankhar and Lok Sabha Om Birla on Tuesday extended their wishes to the teaching fraternity on the occasion of the Teachers' Day, while lauding their commitment towards moulding young minds. 

V-P Dhankhar, LS Speaker extend Teachers' Day greetings

'Union of States under assault': Cong attacks Centre after 'Prez of Bharat' G20 invite

'Union of States under assault': Cong attacks Centre after 'Prez of Bharat' G20 invite
Congress on Tuesday attacked the government after the Rashtrapati Bhawan (President House) sent out invites for a G20 dinner of September 9 in the name of ‘President of Bharat’ instead ‘President of India’ saying now even this ‘Union of States’ is under assault. Congress also targeted Prime Minister Narendra Modi saying that he can continue to distort history and divide India, that is Bharat, that is a Union of States but we will not be deterred.

'Union of States under assault': Cong attacks Centre after 'Prez of Bharat' G20 invite