New Delhi, June 9 (Ajit Weekly News) The Enforcement Directorate (ED) on Thursday said that they have attached an aircraft, belonging to Bhushan Airways Services Private Ltd, a company controlled and owned by Bhushan Power & Steel Ltd (BPSL)ex-Managing Director Sanjay Singal, in its ongoing investigations against BPSL and others.
The ED’s action was taken in connection with a prevention of money laundering case lodged against the accused. The Cessna 525 A CJ 2+ aircraft, valued at Rs 30.91 crore, was attached on Wednesday.
Earlier, the ED had attached various immovable, and movable assets, valued at Rs 4,423.36 crore, including residential, commercial properties at London, Mumbai and Delhi in this case.
“Thus, the total attachment in this case comes to about Rs 4,454.27 crore so far,” the official said.
The ED initiated money laundering investigation on the basis of the FIR registered by the CBI in 2019 under various sections of IPC and Section 13(2) read with 13(1) (d) of PC Act, against various suspects including Bhushan Power and Steel, Singal for criminal conspiracy, cheating, forgery for purpose of cheating, use of forged documents as genuine, falsification of accounts, and criminal misconduct by public servant.
The ED learnt in the investigation that Singal generated proceeds of crime through siphoning of loan funds from BPSL and layered it through various entities under his control and such proceeds of crime were used towards acquisition of the said aircraft as well as for repayment of the bank loan taken for acquiring it.
It had earlier also filed a prosecution complaint (charge sheet) before a special court against 25 accused in which the court has taken cognisance of the offence.
–Ajit Weekly News