Excelsior Correspondent
JAMMU, Feb 10: In a bank fraud case, Directorate of Enforcement, Jammu has provisionally attached assets worth Rs 20.25 crores in the form of lands in possession of the accused Raj Kumar Gupta, an industrialist, of Jammu & Kashmir.
The attachment in terms of land was done under the provisions of Prevention of Money Laundering Act, 2002 in Bank of India loan case where accused persons namely Raj Kumar Gupta, Radhika Mahajan and RajatMahajan connived each other by siphoning off amounts to the tune of Rs.91.63 Cr. (through companies/firm namely Jhelum Infra Projects India Pvt Limited- Rs. 39.70Cr., M/s Jhelum Industries ( Rs. 33.83 Cr.) and I D Sood Ispat Private Limited- Rs.18.10 Cr). The loan accounts were declared as NPA by bank on December 31, 2014.
The investigation so far has revealed that huge cash of Rs 20.87 cr. had been withdrawn from the loan accounts and accounts of various sister concerns by accused Raj Kumar Gupta and others. Further, funds to the tune of Rs. 18.47 cr. were siphoned off through accounts owned and controlled by Gupta and his family members through bogus accounts in the name of employees.
The said accounts were opened specifically for the purpose of siphoning off of funds of loan accounts. The remaining funds were utilised for making payments to different individuals for non-business purpose which violates the terms and condition of sanctioning of loan.
The properties provisionally attached by Enforcement Directorate Jammu include two immovable properties in terms of land which include land measuring 44 kanals 10 marlas at village Kartholi in Samba worth Rs 7.59 crores and land measuring 491 kanals 16 marlas in Tehsil Pampore, District Pulwama in Kashmir valley worth Rs 12.66 crores.
Enforcement Directorate Jammu recorded case ECIR/03/JSZO/2020U/s 3 r/w 4 of PMLA after CBI registered different FIRs against accused Gupta and others under section 120-B read with section 420 and 409 of Ranbir Penal Code, 1989 which are scheduled offences under Prevention of Money Laundering Act,2002.
During ED investigations, searches were conducted of business establishments, office and residence premises of Raj Kumar Gupta to collect the incriminating documents which provide leads to investigating agencies to attach the properties of the accused persons. ED in J&K is actively proceeding to attach the properties of accused persons whose cases registered by them whether it pertains to corruption and so on.
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