ED raids 3 places in Bengal in money laundering case against Rashmi Group of Companies
Jul 15, 2022
New Delhi [India], July 15 : The Enforcement Directorate (ED) carried out searches at three places in West Bengal in a case of 'Rashmi Group of Companies' related to the loss of Rs 73.40 crore to the public exchequer by deliberate mis-declaring the facts and mis-utilizing the dual freight policy of the Indian Railways to avail the wrongful benefits of the lower tariff of freight for transportation of iron ore, the agency said on Friday.
The agency conducted these searches under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 on Wednesday (July 13).
As a result of the search operation, Rs 64.97 crore lying in the bank account of the companies has been frozen and cash amount found at the premises amounting to Rs 1.01 crore has been seized from the searched premises.
Earlier, one Provisional Attachment order amounting to Rs 9 crore was issued, which was confirmed by the Ld. Adjudicating Authority (PMLA).
The ED initiated a money laundering investigation on the basis of an FIR registered by the Central Bureau of Investigation, Kolkata under various sections of the Indian Penal Code and section 13(2) that read with section 13(1)(d) of Prevention of Corruption Act, 1988 against the Rashmi Cement Ltd, Rashmi Metalik Ltd and others.
