The Directorate for Enforcement of Law (ED) stated that about a dozen luxury vehicles and three super wheels after raids made in the premises of Shakti Ranjan Dash and related entities in Bhubanesware.
Search has been done in connection with the money washing probe on the alleged £1,396 Crore Bank Bank Pelongery Fadus against Indian Technomac Company Ltd (ITCOL) based in Himachal Pradesh.
The investigation agency carried out raids on the anmol Mine PVT on Saturday. Ltd. (Ampl) and Anmol Resources pvt. Ltd. (Arpl) and their CEO (MD), Shakti Ranjan Dash, in the capital Odisha.
ITCOL received loans from the consortium led by Bank of India from 2009 to 2013 by presenting “counterfeit” detailed project reports and proving fake sales to fictitious/Shell companies, Ed said in Sunday statement.
The case of money laundering stems from the Himachal Pradesh Police CID against ITCOL and its promoters and claims that its directors who agreed to employees of various companies and CAS, they unfolded loans used from the Consortia Bank.
ITCOL loans were not used for the purposes for which they were sanctioned, and “fraud” was on the melody £1 396 crore, said ed.
Formerly the probe agency attached assets in value £310 crore in this case, of which the classification of (renewed) properties £289 crore for victim banks in April.
Itcol and its related entities Shell “diverted” £59.80 Crore to Ampl’s bank accounts and it is said that Dash “consciously” helped the promoter ITCOL RAKESH KUMAR SHARA using these resources for mining activities in Odisha.
During the search, 10 luxury vehicles and three super bikes belonging to DASH and the company that had beneficially owned, said the statement of ED.
Sissed vehicles include Porsche Cayenne, Mercedes-Benz GLC, BMW X7, Audi A3, Mini Cooper and Honda Gold Wing Bike worth more than more than more than more £7 crore.
£13 Lakh in cash and jewelry £1.12 Crore also recovered.
(Tagstotranslate) Odisha Bank Fraud Case
