New Delhi [India], September 26 : The Directorate of Enforcement (ED) has filed prosecution complaint under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 against Laxmi Corrugated, its partners Dinesh Kumar Tripathi and Mrs. Radha Dinesh Kumar, Vishal Kumar, the then Bank Manager Indian Bank and two others, in an alleged bank fraud case before a special court at Mapusa, Goa.
ED said in a release that the court has taken cognizance of the prosecution complaint.
ED initiated investigations on the basis of FIR registered by Central Bureau of Investigation (CBI), Goa under various sections of IPC and Prevention of Corruption Act, 1988 for entering into a criminal conspiracy and provide various credit facilities and loans using fake/forged documents and misappropriated the amount among themselves, thereby, causing financial loss of Rs 1.45 crore to Allahabad Bank and corresponding undue gain among themselves.
ED investigation revealed that Laxmi Corrugated, its partners Dinesh Kumar Tripathi and Mrs. Radha Dinesh Kumar cheated the bank with the help of its then Branch Manager, Vishal Kumar by getting 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, 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 is under progress.
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