Directorate of Enforcement (ED) has provisionally attached properties worth ₹24.94 crore of director of Ludhiana-based Pure Milk Products Private Limited Charanjit Singh Bajaj and guarantor Gurdeep Kaur in connection with a bank fraud case.
The properties attached include land and building of the firm situated at village Alamgir, Malerkotla Road in Ludhiana and various immovable properties in the name of both the accused.
ED had initiated an investigation under the provisions of the Prevention of Money Laundering Act, 2002 based on an FIR registered by CBI in the year 2019 based on a complaint filed by the State Bank of India against the firm for forgery, cheating and other offences and misappropriation of loan amount to the tune of ₹60.74 crore. A chargesheet has been filed by the CBI before the CBI special court, Mohali.
The investigation conducted by ED revealed that the firm had fraudulently availed loans from the bank by forging books of accounts and diverted the loan amount availed so by using various modus operandi.
ED had earlier conducted search action in this case on December 27, 2022, at 11 different locations in Punjab which led to the recovery and seizure of property-related documents, mobile phones, gold coins and cash totalling ₹1.15 crore.
{{/usCountry}}ED had earlier conducted search action in this case on December 27, 2022, at 11 different locations in Punjab which led to the recovery and seizure of property-related documents, mobile phones, gold coins and cash totalling ₹1.15 crore.
{{/usCountry}}