New Delhi, Oct 7 In a significant move to restore the Proceeds of Crime (POC) to rightful claimants, the Enforcement Directorate (ED) Delhi zonal office has successfully restituted property valued at Rs.1.34 crore to the rightful claimant, i.e. IDBI bank in the case of Kamal Kalra being investigated by ED, the agency said on Tuesday.
According to the ED, it initiated the investigation on the basis of an FIR filed by Bank of Baroda against 59 current account holders of firms/companies and other unknown bank officials for commission of offence under various Sections of IPC,1860 and Prevention of Corruption Act, 1988.
“ED investigation revealed that huge amounts were remitted to various companies based in Hong Kong, SAR, China and Dubai, in connivance with several hawala operators and businessmen in the guise of advance import remittances and remittances towards purported software imports,” the agency said.
However, there were no subsequent imports, and the accused submitted fake documents to the bank.
During the investigation, the ED issued seven provisional attachment orders, attaching assets worth Rs. 69 crore belonging to various accused persons and filed five prosecution complaints before the Special Court.
“On August 23, 2025, considering the intent of PMLA to restitute/ restore the proceeds of crime (POC) to bonafide legitimate claimants and victims of the offence of money-laundering, the ED submitted no objection before the Additional Session Judge for the release of property attached to the bonafide legitimate claimant i.e. IDBI Bank Lt,” the agency said in its press statement.
“Based on the afore-said submission of ED, the Additional Session Judge was pleased to pass an order to restitute the attached immovable properties to the bona fide legitimate claimant, i.e. IDBI Bank Ltd,” it added.
The restitution of the properties to the rightful claimant marks a significant step in the ED's ongoing efforts to ensure that the POC are returned to those affected.
The ED further added that it continues to uphold its commitment to combating financial crimes and ensuring justice for victims of such crimes.
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