Enforcement Directorate attaches assets worth over Rs 55 Cr in a fraud case in Jharkhand

The attached assets include 98 immovable properties locsted at Ranchi and three commercial shops at Raipur as well as bank balances in form of fixed deposits in name of the said company, its directors and their relatives namely Jayant Dayal Nand, his wife Anita Dayal Nand, another director Shyam Kishore Gupta and Ranjana Shrivastav wife of one of the directors namely Prakash Prasad Lala.

ED initiated its investigations on the basis of FIR registered by Ranchi CBI and the charge sheet has been filed against Sanjeevani Buildcon Pvt Ltd and others.

The ED investigation so far has revealed that SBPL and its directors cheated a large number of people of Jharkhand by inducing them by way of publication of misleading advertisements through various media channels and public canvassing which resulted into receipt of payments from the investors through cheque, cash towards purported sale of plots of land and constructed house.

The directors of the company had opened a large number of bank accounts in the name of company as well as in own names for the purpose of laundering of these funds, the officials in the probe agency said.

“A large part of proceeds of the crime was also withdrawn in cash by the accused persons for depositing the same in their personal accounts which was further projected as untainted”, they added.

In this connection, ED had earlier attached assets worth Rs 3.10 crore in the name of SBPL and its directors which was subsequently confirmed by PMLA Adjudicating Authority.

The probe has led to the arrest of one director Shyam Kishore Gupta on March 12 last year and a prosecution complaint was filed before the PMLA Special Court against eight accused persons and entities.

A ‘Look Out Circular’ has also been issued by ED against the absconding accused Jayant Dayal Nand who was the master mind of this scam, the agency said in a statement,adding that the further investigation in this caseis is under progress.