ED attaches assets of former Kochi naval base chief engineer in money-laundering case

New Delhi [India], March 3 : The Enforcement Directorate on Thursday has provisionally attached assets worth Rs 7.47 crore including cash of Rs 4.02 crore and 6.636 kgs of fine gold valued at Rs 3.45 crore approximately belonging to Rakesh Kumar Garg, Sanjeev Khanna and Sanjeev Kumar Aggarwal in a CBI case against Rakesh Kumar Garg, the then Chief Engineer (Naval Works), Military Engineer Services (MES), Kathari Bagh Naval Base, Kochi, the law enforcement agency informed on Thursday.
ED initiated a money-laundering investigation on the basis of FIR u/s 120B of IPC r/w Sections 7, 8, 10 and 12 of PC Act, 1988 registered by CBI, New Delhi against Rakesh Kumar Garg, Sanjeev Khanna and other unknown public servants and private persons, said the agency.
According to a statement issued by ED, it was alleged that Rakesh Kumar Garg, who was posted as Chief Engineer (Naval Works), Military Engineer Services (MES), Kataribagh, Naval Base, Kochi, Kerala since 2017, had indulged in corrupt practices by way of demanding & collecting illegal gratification of one per cent of tender value from contractors for issuing various civil contracts in Naval Base, Kochi.
"The investigation by ED revealed that Rakesh Kumar Garg, Sanjeev Khanna and Sanjeev Aggarwal had by commission of scheduled offence and other offences relatable to scheduled offence, derived/obtained the proceeds of crime in the form of cash totalling to Rs 4.02 crore and 6.636 kgs of fine gold valued at Rs 3.45 crore approximately," said ED.
It further said, "Since the accused persons are possessing/concealing/using such proceeds of crime worth Rs. 7.47 Crore which is provisionally attached vide PAO No. 01/2022/KCZO dated 03.03.2022."
Further investigation is in progress.