ED files chargesheet against Laxmi Corrugated in PMLA case
The ED initiated a probe under the Prevention of Money Laundering Act (PMLA) based on an FIR registered by the CBI, Goa under various Sections of the IPC and the Prevention of Corruption Act.
New Delhi: The ED on Tuesday filed a prosecution complaint in a case of loan fraud to the tune of Rs 1.45 crore against Laxmi Corrugated, its partners Dinesh Kumar Tripathi, Radha Dinesh Kumar, bank manager Vishal Kumar, and two others, before a Special Court at Mapusa, Goa. The court has taken cognisance of the prosecution complaint.
The ED initiated a probe under the Prevention of Money Laundering Act (PMLA) based on an FIR registered by the CBI, Goa under various Sections of the IPC and the Prevention of Corruption Act.
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The central agency is probing the accused for entering into a criminal conspiracy and providing various credit facilities and loans using fake/forged documents and misappropriating the amount among themselves, thereby, causing a financial loss of Rs 1.45 crore to Allahabad Bank and the corresponding undue gain among themselves.
The ED’s investigation revealed that Laxmi Corrugated, its partners Dinesh Kumar Tripathi and Radha Dinesh Kumar cheated the bank with the help of its then branch manager, Vishal Kumar by getting a MSME loan sanctioned, by providing a false net worth certificate, fake quotation for machinery and other documents as the borrowing firm was financially incapable of servicing the MSME term loan of Rs. 90.5 lakh and cash credit of Rs. 45 lakh.
Earlier, the ED had attached assets worth Rs. 1.67 crore including three immovable properties in the form of commercial plots, buildings, machinery etc situated in Cuncolim, Goa and movable properties in the form of car and bank deposits. Further investigation into the matter is ongoing.
