E-Paper
ED attaches properties worth ₹2.85cr of former UPPCL MD
ED officials confirmed that the former UPPCL MD earned around 163.23% more than his legitimate income during the given period
The Lucknow Zonal Office of the Enforcement Directorate has provisionally attached properties worth ₹2.85 crore of former Uttar Pradesh Power Corporation Limited (UPPCL) managing director (MD), Ayodhya Prasad Mishra, in a disproportionate assets (DA) case. The attachment was made under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, confirmed Lucknow Zone ED officials here on Saturday. They confirmed that the former UPPCL MD earned around 163.23% more than his legitimate income during the given period.
In a press note shared with media, the ED officials said the attached properties are in the form of three immovable properties, including a residential flat and a commercial shop in Lucknow district and an agricultural land in Gonda district in the name of AP Mishra and his family members.
They said that the ED initiated investigation based on an FIR registered by UP Vigilance at its Lucknow sector police station under appropriate sections of Prevention of Corruption (PC) Act, 1988 against AP Mishra. It was alleged that AP Mishra earned a total income of ₹1.92 crore (approx) from legitimate sources in the prescribed period, against which ₹5.08 Crore (approx) was spent on creation of assets. Thus, in relation to the income ₹3.15 crore (approx) was spent in excess by him, which has been found to be 163.23% more than his legitimate income during the period.
They further stated that the investigation revealed that AP Mishra utilised the bank accounts of his family members to channel and integrate illicit funds acquired by him into the acquisition of various immovable properties. Further, the proceeds of crime (POC) were parked for acquisition of agricultural, commercial and residential property in Lucknow and Gonda in his name and in the name of his family members. The same has been provisionally attached by ED, Lucknow in the case. Further investigation is under progress.
