Srinagar, Jan 15 (IANS) The Enforcement Directorate's Srinagar zonal office on Wednesday announced that it has attached property, worth Rs 2.25 crore, in Delhi of a company, accused of fraud, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
"Directorate of Enforcement (ED), Srinagar Zonal Office, has provisionally attached immovable properties worth Rs. 2.25 crore related to the shareholders/owners of M/s Manoj Ji & Co. Pvt. Ltd. under the provisions of Prevention of Money Laundering Act (PMLA), 2002," the agency said.
The ED said that it initiated an investigation on the basis of a charge sheet filed by the CBI-ACB, Srinagar, for the offence defined u/s sections 420 r/w 120-B of the Ranbir Penal Code (RPC) against M/s Manoj Ji & Co Pvt Ltd and others, wherein, it was alleged that the firm, a Railway Out Agency (ROA) of Northern Railway, Udhampur, and managed/ controlled by late Rajesh Oberoi, and was engaged for the transportation of DAP fertiliser weight of 3,938.2 MTs of IFFCO from Rail Head Point, Udhampur to the buffer stock of IFFCO, situated at Nowgam, Srinagar.
However, DAP fertiliser, weighing 1,024 MTs, was never delivered at the destination point but the freight charges for this were also fraudulently claimed by the company.
"Thereby, M/s Manoj Ji & Co Pvt Ltd made a deliberate loss of Rs 2.25 crore (approx.) (cost of undelivered 1024 MTs of DAP fertiliser viz. Rs 2.07 crore (approx.) and fraudulently claimed freight charges of Rs 18.53 lakh (approx.) to IFFCO/ Northern Railway," the ED said, adding that its investigation revealed that the payments of freight charges received in the bank account of M/s Manoj Ji & Co Pvt Ltd from railway authorities against the transportation of DAP fertiliser, weighing 3,938.2 MTs including non-delivered fertiliser weighing 1,024 MTs, were rotated in a very complex manner amongst the various bank accounts by the controller/ promoter or the representative of the company, i.e., late Rajesh Oberoi "so that the original form/ colour of the fund and the actual source of the fund couldn’t be traced and finally diverted/disposed of the funds, received from the Northern Railway into business activities of the companies/ firms and personal needs of the Oberoi family". “
"Therefore, the property, an Industrial Plot at Wazirabad, Delhi registered in the name of Rajesh Oberoi and his wife Rama Oberoi, has been identified as Proceeds of Crime under PMLA and having a value of Rs 2.25 crore (approx.), has been provisionally attached. Further investigation is under progress," the ED statement said.
