The Directorate of Enforcement (ED) on Saturday provisionally attached properties worth Rs 108.93 lakh under Prevention of Money Laundering Act, 2002 (PMLA) in connection with a bank fraud case against Zoya Resorts and Hotel here.
A press note from the ED said, "Attached assets consists of two plots belonging to Zoya Resorts and Hotel including construction over them situated at Village- Mohal Sadhora, Shimla and one flat belonging to Lal Chand Shyam situated at Royal Oaks Apartment, Mauja Kaithu, Shimla."
The press note said that the ED initiated investigation by registering its case ECIR under the provisions of PMLA, 2002, The investigation has revealed that a loan of Rs 155 lakh was sanctioned by Central Bank of India, Shimla to M/s Zoya Resorts and Hotel, out of which Rs 125 lakh was disbursed to the current account of M/s Zoya Resorts and Hotel in gross violation of the terms and conditions laid down in the loan agreement.
"Rajesh Mukhyan, Neenu Shyam (both partners in M/s Zoya Resorts and Hotel) and Lal Chand Shyam ( Guarantor of loan availed by M/s Zoya Resorts and Hotel) in connivance with the officials namely PK Srivastava, the then Chief Manager and Indira Kashyap, the then Senior Manager in Central Bank of India had entered into a criminal conspiracy even at the stage of loan application and defrauded bank by receiving funds amounting to Rs 125 lakh and then routed these funds through other accounts and used not for the purpose, for which it was actually sanctioned," the release said.
"The loan account finally turned into Non Performing Assets (NPA) with an outstanding amount of Rs 153.40 lakh. Identified assets totaling to Rs 108.93 lakh being proceeds of crime in this case as envisaged vide section 2(1)(u) of the PMLA, 2002, has been attached under PMLA, 2002," it added.
( With inputs from ANI )