The Enforcement Directorate (ED), Lucknow Zonal Office, has provisionally attached properties worth ₹4.33 crore under the provisions of Prevention of Money Laundering Act (PMLA), 2002, in the case of Axis Bank fraud. The property belongs to M/s JR Sood and Co Pvt Ltd, Delhi, confirmed senior ED officials on Tuesday.
They said the attached property is in the form of a residential plot measuring 781.78 Square Yards at Rosewood City of Gurugram, Haryana.
In a press note shared with media, the ED registered a PMLA case against the private firm and initiated investigation on the basis of an FIR registered by Gautam Buddh Nagar Police under several sections of IPC, 1860. It was alleged in the FIR that unidentified persons had opened bank accounts using forged documents and identities and used them to deposit demonetised bank notes which were subsequently transferred to their actual entities through multiple layering.
The ED investigation revealed that 23 bank accounts of 23 shell companies were used to deposit demonetised currency notes and a huge amount of demonetised currency worth ₹52 Crore was routed through. The money deposited was layered and routed multiple times
in a series of suspicious transactions to send to the ultimate destination by camouflaging the same as genuine business transactions.
{{/usCountry}}in a series of suspicious transactions to send to the ultimate destination by camouflaging the same as genuine business transactions.
{{/usCountry}}The investigation has revealed that out of the many entities M/s JR Sood and Co. Pvt Ltd was one of the ultimate beneficiaries of the deposited money.
The officials said further investigation is under progress.