ED attaches assets worth Rs 2.62 cr of Bihar-based builders in money laundering case
Oct 30, 2021
New Delhi [India], October 30 : Enforcement Directorate (ED) has provisionally attached assets worth Rs 2.62 crore belonging to Patliputra Builders Limited under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
The assets include two immovable properties situated at Ranchi in Jharkhand, said the ED.
ED initiated a money-laundering investigation on the basis of the FIRs and charge-sheet filed by Patna Police under the section of the Indian Penal Code (IPC), 1860 against Anil Kumar Singh, who is the Managing Director of Bihar-based Patliputra Builders Limited and others.
According to ED, Anil Singh was involved in the commission of offences like cheating, fraud, dishonesty and grabbing of public money.
"As per FIR, Anil Singh embezzled the amount of Rs 5.82 crore payable to the employees of 'The Newspapers & Publications Ltd' and utilized the money for acquisition of properties in the name of his company Patliputra Builders Limited," said the ED in an official statement.
It further stated that during the course of the investigation, Anil Singh was "non-cooperative and deliberately avoided the summons issued under PMLA."
"Non-appearance and non-submission of documents called for clearly shows his malafide intention," ED said.
The ED arrested Anil Singh on September 7 this year under PMLA in a cheating case.
The ED also said, "Proceeds of crime generated in cash has been layered through acquisition of properties in the name of his company and use of banking channels in order to conceal the actual origin of tainted money."
