ED seizes over Rs 2.14 crore asset of Mangalore Refineries DGM
Apr 02, 2022
New Delhi [India], April 2 : The Enforcement Directorate (ED) has provisionally attached movable and immovable properties worth Rs 2.14 crore belonging to Deputy General Manager, Mangalore Refineries and Petrochemicals Ltd (MRPL), Niranjan Gupta and his wife Priti Gupta, under the Prevention of Money Laundering Act (PMLA) in a case pertaining to disproportionate assets.
According to an official statement, the attached assets are in the form of two residential flats located in Kulai, Mangaluru and shares in Demat accounts held by Niranjan Gupta and Priti Gupta.
ED initiated the money-laundering investigation on the basis of a First Information Report (FIR) registered by the Central Bureau of Investigation, Anti-Corruption Branch, Bengaluru under 13(1)(b) of Prevention of Corruption, 1988 wherein it was alleged that during the period from 2012 to 2018, the accused had acquired huge assets, both movable and immovable in his name and in the name of his wife which was disproportionate to his known sources of income.
An investigation by ED revealed that Niranjan Gupta and his wife Priti Gupta had made huge cash deposits in their bank accounts from unexplained sources in order to conceal the actual nature with an intent to launder money, the official said in a statement.
The anti-money laundering agency also said that they utilised the proceeds of the crime to acquire immovable and immovable properties and shares.
Further investigation is in progress.
