ED attaches assets worth Rs 16.38 crore of Associated Journals Limited
May 09, 2020
Mumbai (Maharashtra) [India], May 9 : The Enforcement Directorate has issued a provisional attachment order under Prevention of Money Laundering Act (PMLA), 2002, attaching part of the assets to the extent of Rs 16.38 crore of a nine-storey building with two basements in Mumbai of Associated Journals Limited.
The attachment order was issued against the Associated Journals Limited and Moti Lal Vora, Chairman-cum-Managing Director of the Associated Journals Limited, an official release said.
The Enforcement Directorate initiated investigation under provisions of PMLA on registration of FIR by state police and CBI which said that "Plot No. C-17 Sector 6, Panchkula" was allotted to AJL in 1982.
The plot was resumed back by the Estate Officer, HUDA vide order dated October 30, 1992 as the AJL did not comply with the conditions of allotment letter and the resumption order attained finality after dismissal of the revision petition in 1996, the release said.
It said the then Chief Minister Bhupinder Singh Hooda "blatantly by misusing his official position dishonestly allotted the said plot afresh in the guise of re-allotment to the AJL at original rates plus interest in violation of necessary conditions/ policy of HUDA" vide order dated August 28, 2005.
It further noted that Hooda also did not adhere with the "legal opinion of LR, Haryana and recommendations of HUDA officers and FCTCP."
"Thus, there was a wrongful loss to HUDA and wrongful gain to AJL. Bhupinder Singh Hooda further favoured the AJL by granting them three undue extensions for construction of plot from 01.05.2008 to 10.05.2012 until the AJL completed the construction in the year 2014," the release said.
It said investigation under PMLA revealed that Moti Lal Vora and Hooda were involved in the process of illegal possession of "crime proceeds".
The property was provisionally attached and adjudicating authority under PMLA has confirmed this attachment.
"It has been further revealed that, the accused used this "proceeds of crime i.e. Plot No. C-17, Sector-6, Panchkula" for availing loans from Syndicate Bank, IP Estate Branch, Bahadursha Zafar Marg, New Delhi by way of pledging it for approval of construction of building at "Plot No. 02, Survey No. 341, Near Kala Nagar, EPF Office, Bandra (E), Mumbai" held in the name of Associated Journals Limited valuing at Rs 120 crore.
Further investigation is going on.
