The Mumbai wing of the Enforcement Directorate has provisionally attached properties worth RS 81.88 CRORE Under the Prevention of Money Launning Act (PMLA), 2002, in a bank fraud case of Vidhyavasini Group of Companies Governras Gupay Rajendrass Rajendraden Gupta and their associators, said official, official Vije, official, official Vije, official, official Vije, official, official Vije, officially said.
The ED started an investigation into the case on the basis of FIRs registered under different sections of the Indian Penal Code (IPC) and PC ACT, 1988 by the Central Bureau of Investigation (CBI), and the Economic Delices Wing (EOW), Mumbai.
The CBI investigation showed that the suspect, Vijay Rajendraprasad Gupta and Ajay Rajendraprasad Gupta, in Connivance with bank officials and chartered accountants, loan advisors and other fellow-samenzewers, used various loans and credit facilities of the Staatsbank, van de Staatsbank, van de Staatsbank.
The loans were used with the help of forged and manufactured documents and, after distracting the same, used the yield of the crime for their personal gain and other purposes, causing the SBI loss for the melody of RS 764.44 Crores.
The EDSonde discovered that the promoters of the Vindhyavasini Group of Companies have cheated on the SBI and have routed the money and transferred in the form of the proceeds of the loan, by more than 50 Shell entities that they have determined and even cash of more than RS 42 Crore had recorded.
They used the proceeds of the loan to acquire real estate in their name, the names of their family members and even Benami property.
During the research, the most important promoter of the companies of this group, Vijay R Gupta, was arrested on 26 March on the basis of section 19 of the PMLA and is currently under judicial detention.
Further research is under progress.
#confirms #assets #Mumbai #based #construction #company #Crore #Fraud #Case