The Enforcement Directorate (ED), Mumbai on Tuesday performed search operations at 9 places throughout Mumbai and Aurangabad whereas probing suspected cash laundering in a financial institution fraud case towards M/s Spectra Industries Restricted (SIL) and others.
The company has frozen financial institution steadiness, mounted deposits, fairness shares and securities price Rs 8 crore and numerous property deeds, the company knowledgeable on Wednesday.
The central company initiated investigation on the premise of an FIR registered by CBI, Mumbai towards Spectra Industries Restricted (SIL), Jaidev Vinod Gupta, Sheela Vinod Gupta and others primarily based on criticism filed by Financial institution of India for defrauding a consortium of banks to the tune of Rs 27.6 crore.
SIL and its administrators are alleged to have hatched a legal conspiracy to trigger loss to banks and corresponding wrongful achieve to themselves by diverting mortgage funds by fraudulent transactions and round buying and selling. CBI has filed the chargesheet within the case.
ED’s investigation into the cash laundering revealed that the promoters of SIL took companies of assorted lodging entry suppliers for the aim of layering funds by the financial institution accounts of assorted bogus entities.
Suspicious third-party transactions had been made to divert funds to the assorted corporations. Bogus purchases had been booked towards funds made to totally different entities offering lodging entries, the company said.
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