New Delhi:Enforcement Directorate (ED) has provisionally attached properties worth Rs 72 crore belonging to Pravin Raut under Prevention of Money Laundering Act (PMLA) in a PMC Bank loan cheating case.
ED initiated its probe under PMLA on the basis of FIR registered by Mumbai Police's Economic Offences Wing under Sections 409, 420, 465, 466, 471 read with 120 B of IPC against Housing Development Infrastructures Ltd (HDIL), Rakesh Kumar Wadhawan, Sarang Wadhawan, Waryam Singh, CMD of PMC bank Joy Thomas and others for causing loss to the tune of Rs 4355 crore to PMC Bank and corresponding gain to themselves.
ED officials revealed that Rs 95 crore has been siphoned off through HDIL by one of the accused Pravin Raut in active conspiracy and connivance with various persons. The source of the funds was illegally availed loans and advances by HDIL from PMC Bank.
There was no document or agreement in support of these payments made to Pravin Raut and as per the ledger of HDIL, the funds were given to Pravin Raut for acquiring land in Palghar area", the officials said.
The central probe agency further said that that Pravin Raut, had 'siphoned off' Rs 95 crore worth of funds from the scam-hit bank in the garb of loan, out of which he paid Rs 1.6 crore to his wife, Madhuri Raut, who subsequently transferred Rs 55 lakh in two tranches to Varsha Raut, wife of Sanjay Raut, as an "interest-free loan."
"The amount was further utilised for purchase of flat in Dadar East, Mumbai and investigation further revealed that Varsha Raut and Madhuri Pravin Raut are partners in Avani Construction. Varsha Sanjay Raut has received Rs 12 lakh from this entity (as overdrawn capital converted to loan) on a contribution of mere Rs 5625 whereas the loan amount of Rs 12 lakh was still remained outstanding.
Earlier, several properties of Rakesh Kumar Wadhawan, Wadhawan Family trust and others totaling to Rs 293 crore has been attached and jewelry worth Rs 63 crores has been seized and a prosecution complaint has been filed in this case against Rakesh Kumar Wadhawan and others for the offence of money laundering under PMLA., the ED said, adding that further investigation in this case has been under progress.(UNI)