Bank fraud: ED attaches demand draft worth Rs 2.25 cr in Rajasthan
It said the case pertains to Syndicate Bank and involves alleged "mastermind" of the fraud, Udaipur-based chartered accountant (CA) Bharat Bomb and a Jaipur-based builder Shankar Lal Khandelwal.
The accused, the ED said in a statement, "in collusion with officials of Syndicate Bank" defrauded the bank between 2011-16 by adopting different modus operandi and caused the bank "deliberate and a huge loss."
"Khandelwal, through his company Khandelwal Buildcon Pvt Ltd, invested Rs 2.25 crore in February, 2016 to purchase a plot (no G20 west way heights in truck terminal scheme at Bhankrota in Jaipur) in the name of Taruchaya Colonizers LLP."
"Subsequently, on this plot a real estate project Taruchaya Residency was developed," the ED said.
Khandelwal was making an attempt to dispose of proceeds of the crime by accepting demand draft (DD) of Rs 2.25 crore from the firm, Taruchaya Colonizers LLP, the agency said.
It said that when this DD was presented before a IndusInd Bank branch in Jaipur, for realisation with a proposal to release the immovable properties mortgaged by Khandelwal, early this month the ED seized and froze it under the Prevention of Money Laundering Act (PMLA).
Properties worth Rs 386.58 crore have been attached by the ED in this case in the past and the agency has also filed a chargesheet against 81 people including bank officials, Bomb and Khandelwal before a special PMLA court in Jaipur.
"The tainted money earned by the fraudsters was either invested in immovable assets or transferred in various bank accounts through complex maze of transactions," the agency charged.
Further probe is underway, it said. NES NES TIR TIR