NEW DELHI — A chargesheet under the anti-money laundering law has been filed against the promoters of a Jammu-based business group in a case linked to an alleged bank loan fraud involving an amount of more than Rs 91 crore, the ED said Monday.
Those named in the prosecution complaint include Raj Kumar Gupta, Radhika Mahajan, Rajat Mahajan, Jhelum Industries, Jhelum Infra Projects India Private Limited, I D Sood Ispat Private Limited and New Jammu Flour Mills Private Limited, the Enforcement Directorate (ED) said in a statement.
The court of principal sessions judge, Jammu took cognisance of the chargesheet, filed under various sections of the Prevention of Money Laundering Act (PMLA) on November 7.
The case pertains to an alleged loan fraud of Rs 91.5 crore at the Bank of India and the money-laundering case stems from four FIRs filed by the Central Bureau of Investigation (CBI) against the accused.
The ED probe found that there was alleged “commission of fraud, cheating, forgery, diversion and siphoning of funds or loans meant and allotted for business activity to Jhelum Infra Projects Private Limited, I D Sood Ispat Private Limited, New Jammu Flour Mills Private Limited and Jhelum Industries, all concerns related to or part of Raj Kumar Gupta group”.
The loans, however, were “not used” for the intended purposes and were defaulted, the agency said.
Gupta had floated numerous concerns in the names of his family members and employees to “divert and siphon” off the cash-credit loan obtained by the above-mentioned entities, the ED said.
The agency had earlier attached assets worth Rs 20.21 crore in the case. — (PTI)