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Punjab AAP MLA diverted ₹3 crore loan amount to his account, bogus firms, says ED
As per central agencies probe, the Amargarh legislator diverted over ₹3 crore to his accounts, ₹34 crore to his bogus firms
The Enforcement Directorate (ED) investigation into the money laundering case registered against Aam Aadmi Party MLA from Amargarh Jaswant Singh Gajjanmajra has revealed that the loan amounts to the extent of ₹3.12 crore were diverted to his accounts.
Gajjanmajra was arrested by the ED on Monday under the provisions of the Prevention of Money Laundering Act, 2002 in a bank fraud case of ₹40.92 crore. He was sent to judicial custody on Tuesday.
The AAP legislator, who was the former director of Tara Corporation Limited (renamed Malaudh Agro Ltd) and Tara Health Food Limited (THFL), was accused of diverting and misusing loans amounting to ₹40.92 crore sanctioned in the name of different firms.
It may be mentioned that the ED initiated an investigation based on an FIR registered by CBI, Chandigarh, under various sections of the IPC and the Prevention Of Corruption Act.
The ED official said the agency carried out a detailed investigation in which it was revealed that the loan amount had been diverted to various bogus firms from Tara Corporation Limited and thereafter diverted and integrated into THFL and another sister concern by the name Tara Sales Limited. “The amounts received into THFL had been used for purposes other than for which loan was availed. Amounts to the extent of ₹3.12 crore had been diverted to the personal accounts of Jaswant Singh Gajjanmajra. Another ₹33.99 crore was diverted to THFL of which Jaswant Singh was the director during the relevant period,” an official said.
“The investigation is on and if required, the agency will reapply for his custody to carry out detailed interrogation,” he said.
In September last year, the ED had carried out search operations at the business and residential premises of Jaswant Singh and his associates and found various incriminating evidence.
On the complaint of the Ludhiana-based branch of Bank of India, the CBI had registered an FIR in February 2018 under various sections of IPC against Gajjanmajra and six others for committing fraud with the bank for not repaying and misusing loans taken by firms owned by Gajjanmajra and his family members from 2011-2014.
In its complaint, the bank said the firm, which traded foodgrains, was sanctioned loans in four intervals from 2011-14.
Gajjanmajra is among seven people and companies named as accused in the case. CBI conducted the raids on the basis of a complaint against Gajjanmajra’s firm in Gaunspura, Malerkotla, by the Bank of India in Ludhiana. A sum of ₹16.57 lakh, 88 foreign currency notes and incriminating documents were recovered during the searches, according to CBI.
In September last year, the ED raided Gajjanmajra’s house and other commercial properties and seized mobile phones, hard drives and Indian currency worth ₹32 lakh.
