ED seizes assets worth Rs 72 crore of Pravin Raut in PMC Bank loan fraud case: The Tribune India
Tribune press service
New Delhi, January 1
The Directorate of Enforcement (ED) announced on Friday that it had issued a provisional seizure order under the Prevention of Money Laundering Act (PMLA) to seize properties worth Rs 72 crore belonging to Pravin Raut in a PMC Bank loan fraud case.
Agency officials said the PMLA investigation revealed that Rs 95 crore was allegedly embezzled through Housing Development and Infrastructure Ltd (HDIL) by one of the defendants Pravin Raut as part of an “active conspiracy and collusion with various accomplices”. .
A senior ED official said: “The source of funds was illegally used in the form of loans / advances by HDIL from PMC Bank. There was no document / agreement to support these payments made to Pravin Raut.
More so, according to the HDIL ledger, the funds were turned over to Pravin Raut for the acquisition of land in the Palghar area, the official added.
“The investigation also revealed that Pravin Raut paid an amount of Rs 1.6 crore to his wife Madhuri Pravin Raut from the proceeds of crime and from this money, she transferred Rs 55 lakh on December 23, 2010 and Rs 5 lakh on March 15, 2011. as an interest-free loan to Varsha Raut, the wife of Shiv Sena leader Sanjay Raut, ”the managing director said in a statement, while adding that the amount had also been used for l purchase of an apartment in Dadar East, Mumbai.
“The ED investigation also revealed that Varsha Sanjay Raut and Madhuri Pravin Raut are partners in M / s. Avani Construction. Varsha Sanjay Raut received Rs 12 lakh from this entity (as overdraft capital converted into a loan) on a contribution of only Rs 5,625. The loan amount of Rs 12 lakh remains unpaid, ”the statement read.
An investigation under the PMLA was initiated on the basis of an FIR registered by the Economic Crimes Wing of the Mumbai Police under various sections of the IPC against HDIL, Rakesh Kumar Wadhawan, Sarang Wadhawan, Waryam Singh, Joy Thomas (President and CEO of PMC bank Ltd.) and others for causing a loss of Rs 4.355 crore to PMC Bank and a corresponding gain for themselves.
Previously, the ED had tied several properties of Rakesh Kumar Wadhawan, Wadhawan Family Trust and others for a total of Rs 293 crore and jewelry worth Rs 63 crore.
A lawsuit has been filed in the case against Wadhawan and others for the money laundering offense under the PMLA, agency officials said.