Chartered Accountant's Assets worth Rs. 56 Cr Attached in Syndicate Bank Fraud Case.
PrintListen to this Article
The Enforcement Directorate (ED) has attached immovable and movable properties valued at ₹ 56.81 crore belonging to Rajasthan's Udaipur-based Chartered Accountant Bharat Bomb and their other associates in Syndicate Bank fraud case amounting to ₹ 1,267.79 crore, the agency said on Monday.
The attached properties are in the form of agricultural land, plots, shops, offices, flats, fixed deposits and bank accounts. These properties were attached under the Prevention of Money Laundering Act (PMLA), 2002. These assets belong to Bharat Bomb, one Shankar Lal Khandelwal and others.
The ED initiated a money-laundering investigation on the basis of the First Information Report (FIR) registered and the chargesheet filed by the Central Bureau of Investigation against the officials of the erstwhile Syndicate Bank (now Canara Bank) and others.
During the investigation, the ED said that it was revealed that from 2011 to 2016, main fraudster Bharat Bomb in collusion with the bank officials defrauded erstwhile Syndicate Bank to the tune of ₹ 1,267.79 crore.
"The modus operandi of the fraudsters included getting loans sanctioned in their name or in the name of family members and fake cheque discounting purported to be issued by the shell companies controlled by Bharat Bomb. The loans were never repaid by the fraudsters," said the ED.
An investigation by the ED revealed that proceeds of crime generated out of the fraud were transferred by Bharat Bomb to various bank accounts operated and controlled by him, through a complex maze of transactions for placement, layering and integration of the tainted funds.
The ED said that Bharat Bomb invested these tainted funds in immovable properties in the name of himself, his family members, associates, employees, tribal persons, fictitious firms and companies.
Earlier, during the investigation in the matter, the ED had issued four provisional attachment orders towards cumulative attachment of assets worth ₹ 478.66 crore. Additionally, a seizure of ₹ 2.25 crore in the form of a demand draft was also carried out.
Category : Chartered Accountant | Comments : 0 | Hits : 4050
Praveena Anjana of Udaipur has been crowned Miss International India 2023, gaining her position to represent India at the Miss International pageant in Japan this October. Praveena Anjana of Udaipur has been crowned Miss International India 2023, gaining her position to represent India at the Miss International pageant in Japan this October. Anjana, 23, is a chartered accountant by profession who has been interested in fashion and beauty since she was a kid. She began modell...
A chartered accountant absconding for the past five years after allegedly duping people of around Rs 20 crore has been arrested, Delhi Police officials said on Friday. According to a complaint, accused Anil Kumar Bansal, the proprietor at SBM Export Ltd, procured electronic goods on forged documents in 2018 and didn’t pay for those, they said. Special Commissioner of Police (Crime) RS Yadav said in 2018, complainant Arun Kumar Khatri alleged that Bansal had hatched conspiracy and dishon...
Directorate of Enforcement has provisionally attached 59 immovable and movable properties including 53 plots, commercial shops, Industrial plots, agricultural land located at Delhi, Noida, Sonepat, Jalandhar, Hyderabad and balances in bank accounts having value of Rs. 28.67 Crore belonging to Sunil Dhupar, former CA and statutory auditor of M/s Shakti Bhog Foods Ltd & his family members/ companies etc etc under the Prevention of Money Laundering Act, 2002 in the case of M/s Shakt...
In a bizarre case of poor corporate governance, Milestone Furniture, a BSE-SME listed company has delayed announcing its quarterly results because its chartered accountant has “disappeared”. In a statement to the stock exchange, the company said, “The Board Meeting held on 25th day of May 2023 ... discussion was held on Financial Results; the Chairman told the board that the existing Chartered Accountant named CA Bhupendra Gandhi disappeared and is not answering the calls, s...
MahaRERA has issued show-cause notices to chartered accountants and has also written to the Institute of Chartered Accountants of India after it noticed that MahaRERA regulations were being violated as the same chartered accountant has been engaged for the role of the project auditor as well as that of the statutory auditor. Under MahaRERA rules, promoters while withdrawing money from the bank have to submit form 3 certified by the project auditor. Similarly, the developer is also required to...
Comments