New Delhi: The Enforcement Directorate (ED) has provisionally attached proceeds of crime totaling to Rs. 11.85 crores in the form of movable properties belonging to main promoters in the case of M/s Surya Vinayak Industries Ltd. and its group companies under the Prevention of Money Laundering Act, 2002 (PMLA) in a bank fraud case.
The attached assets consist of STDRs, TDRs, Current Accounts, Saving accounts balances of M/s Surya Vinayak Industries Ltd., Sanjay Jain, Rajiv Jain,Neena Jain, M/s Surya Vinayak Hospitalities Ltd., M/s Florina Airlines Ltd. and also shares of Limited Companies of Abhinav Shukla and Sh. Sudhir Shukla.
ED initiated investigation under PMLA on the basis of FIR & chargesheet filed by CBI under section Section 420 and 120 of IPC alongwith Section 13 of PC Act, 1988 for fraud, cheating and causing wrongful loss to public sector banks to the tune of Rs. 2066 Cores out of availed loan of Rs. 2240 crores against Sanjay Jain, Rajiv Jain, M/s Surya Vinayak Industries ltd and others.
Investigation under PMLA revealed that the accused persons, namely, Sanjay Jain and Rajiv Jain who were directors of M/s Surya Vinayak Industries Ltd., had fraudulently availed loans to the tune of Rs. 2240 crores from various banks on the basis of forged records, forged books of accounts, issuance of bogus purchase invoices, accommodation entries etc. Accused diverted the loan amounts through bank accounts of various companies and entities controlled by them and also to their personal accounts. In this manner these accused persons acquired movable assets by rotating the bank loans in maze of transactions to conceal the source.So far, five provisional property attachment orders have been issued for attachment of properties totalling to Rs.179 Crores (approx.). Further Prosecution Complaint was filed on 17.10.17 under section 45 of PMLA against 4 accused persons namely M/s Surya Vinayak Industries Limited, Sanjay Jain, Rajiv Jain & M/s SVIL Mines Ltd, Katni& Supplementary prosecution complaint has also been filed on 18.07.2018 against 32 accused.
Further investigation is under progress.
