New Delhi: The Enforcement Directorate (ED) on Thursday said that it has attached properties to the tune of Rs 66 crore of several persons accused in a Rs 2,206 crore bank fraud case involving Surya Vinayak Industries.
The ED, in a statement, said that the agency has attached assets to the tune of Rs 66.49 crore in the form of immovable or movable properties belonging to various persons in the case of Surya Vinayak Industries Ltd. and its group companies under the Prevention of Money Laundering Act.
The attached assets consist of eight residential plots, a farm house, six residential flats, around 22 acres of agriculture land, four fixed deposits, preference and equity shares of limited companies.
The ED initiated its probe on the basis of FIR and charge sheet filed by the Central Bureau of Investigation for fraud, cheating and causing wrongful loss to public sector banks against Sanjay Jain, Rajiv Jain, Surya Vinayak Industries Ltd and others.
“During investigation, it was revealed that Sanjay Jain and Rajiv Jain, who were directors of Surya Vinayak Industries Ltd, had fraudulently availed loans to the tune of Rs 2,240 crore 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 to an entity namely Falcon Jersey Pvt. Ltd, which finally utilised or parked in the form immovable or movable properties at various places such as Gurugram, Faridabad, New Delhi, Sonipat, Bhiwadi, Noida and Kolkata in the name of various persons,” it alleged.
The ED said that in this manner, the accused persons allegedly acquired assets by rotating the bank loans in maze of transactions to conceal the source. This is the first attachment by ED in the case.
