PMLA: Enforcement Directorate raids premises of businessman in Raipur and Indore

On Thursday, the Enforcement Directorate (ED) raided eight locations in Raipur, Chattisgarh and one in Indore in Madhya Pradesh in relation to a case of Prevention of Money Laundering Act (2002). The case which is perceived to be in tune with Rs 100 crores pertains to banks being allegedly duped off huge amounts of money through forgery.

Read: Rose Valley scam: CBI officials visit state secretariat

The main accused in this case is Subhash Sharma, his relatives, accomplices and business associates whose houses and premises are being checked. The money laundering by Sharma was done by taking a huge amount of money on loans or overdraft facilities. This money was then reportedly siphoned-off by diverting it through approximately 30 entities created by Sharma and his associates. This money which was diverted was then utilized by them, for other purposes which did not relate to the business.

Read: Rose Valley Scam: ED raids five locations in Kolkata

Through the raids conducted by ED, 15 lakh cash was recovered along with some important documents like transaction details, property documents in the name of the forged entities, family members and other persons, power of attorney etc. Further details of the scam are awaited. 

ED questions Bhupinder Hooda in land scam

Last week, former Haryana chief minister and Congress leader Bhupinder Singh Hooda appeared before the Enforcement Directorate in Chandigarh in connection with a money-laundering probe in a land scam case. Hooda was summoned by the ED and his statement was recorded under the Prevention of Money Laundering Act (PMLA). Bhupinder Hooda is alleged to have a role in multiple criminal cases of money laundering, including the Manesar land case and the Associated Journal Limited (AJL) land case. 

Read: ED questions former Haryana CM Hooda in Chandigarh in money laundering case probe

ED probes into DHFL

Enforcement Directorate (ED) last month conducted raids at 14 locations of DHFL and its promoters in connection with loan sanctioned to Sunblink Real Estate, which has alleged links with underworld don Iqbal Mirchi. Investigation revealed that a company called Sunblink Real Estate Private Ltd, which was involved in developing properties in Mumbai for Dawood Ibrahim’s right-hand man Iqbal Mirchi, received loans from an NBFC to the tune of Rs.2,186 crores. This has also been acknowledged by the agency. 

Read: Enforcement Directorate questions Dheeraj Wadhawan of DHFL

(with ANI inputs)