New Delhi: The Directorate of Enforcement (ED), has provisionally attached assets worth Rs 20.25 crores in the form of immovable properties in possession of one of the accused Sh. Raj Kumar Gupta, an industrialist in Jammu & Kashmir in Bank of India loan case involving siphoning off of funds to the tune of Rs.91.63 Cr. (through companies/firm namely Jhelum Infra Projects India Pvt Limited- Rs.,39.70Cr., M/s Jhelum Industries – Rs. 33.83 Cr. and I. D SoodIspat Private Limited- Rs.18.10 Cr). The loan accounts were classified as NPA on 31.12.2014.
ED initiated investigation on the basis of FIRs registered by Central Bureau of Investigation, Jammu under section 120-B read with section 420 and 409 of Ranbir Penal Code, 1989 (pari-materia sections under IPC).
The investigation so far has revealed that huge amount of cash of Rs. 20.87Cr. was withdrawn from the loan accounts and accounts of various sister concerns. Further, funds to the tune of Rs. 18.47 Cr. were siphoned off through accounts owned and controlled by Raj Kumar Gupta & his family members and through bogus accounts in the name of his employees opened specifically for the purpose of siphoning off of funds of loan accounts. The remaining funds were utilised for making payments to different individuals for non-business purpose.
The attached properties include land admeasuring 44 kanals 10 marlas at village Kartholi, district Samba of worth Rs 7.59 crores and land admeasuring 491 kanals 16 marlas in tehsil Pampore, district Pulwama of worth Rs 12.66 crores.
Further investigation in this case is under progress.
