Directorate for enforcement of law (ED) made raids on the Properties associated with the leader of Samajwadi Party (SP) and the former MLA Vinay Shankar Tiwari in connection with £754-Crore bank fraud on Monday.
The air raids were carried out against Vinay Shankar Tiwari and Gangotri Enterprises on Monday, April 7 according to the provisions of the Act on Money washing (PMLA).
According to a report in Hindustan, the search was carried out at 11 locations (in Uttar Pradesh, Delhi and Mumbai) Gangotri Enterprises, a company associated with Tiwari.
Between these places, the raids were carried out in five locations in Lucknow, each in Noida and Gorakhpur and one each in Delhi and Mumbai.
According to the report, Vinay Shankar did not appear before or after the financial probes agency with several announcements.
More than a dozen teams for coercion began to search on Monday morning.
What is the case against Vinay Shankar Tiwari?
The Survey of Directorate for recovery has revealed that Gangotri Enterprises took a loan (limit CC) £1 129,44 crore from the consortium of banks. From that, probably £750 crore was not returned.
Tiwari is a promoter of Gangotri Enterprises LTD that used credit devices in the amount £1 129,44 crore from the consortium of seven banks led by the Indian bank. The main promoters of the company are Vinay Shankar Tiwari, Rita Tiwari and Ajet Pandey.
The Directorate for Enforcement of Law claimed that credit facilities were not paid and grossly diverted, abused and siphoned by Gangotri Enterprises Ltd. and its promoters/directors/guarantors in violation of banking standards ” £754.24 Crore to the Consortium of Bank. ”
CBI case administered
On the basis of the complaint of banks, the Central Office for Investigation (CBI) filed companies against directors, promoters and guarantors of Gangotri Enterprises and its associated companies.
On this basis, ED has launched an investigation under the Money Wash Act. Ed so far confiscated assets in value £100 crore in connection with the case, Hindustan reported.
During the ED probe, he reportedly found several documents in the value of rupees in just four hours of action.
According to ED sources, many such documents were found in Lucknow, Gorakhpur and Noida.
Who is Vinay Shankar Tiwari?
Vinay Shankar Tiwari is the leader of the Uttar Pradesh. He is the son of former Minister and Silman of Gorakhpur, late Hari Shankar Tiwari.
Vinay Shankar Tiwari represented the Chamber of his father, Chillupar in Gorakhpur, after he was elected on the BSP ticket. Later he joined Samajwadi Party (SP) and lost public opinion surveys 2022, reported Times of India.
Toi reported on the quotation of the sources that ED had prepared an indictment against him, which is likely to be filed in court soon.
(Tagstotranslate) Vinay Shankar Tiwari
