The Enforcement Directorate (ED) on Saturday said it has attached land worth Rs74 crore situated at Dehradun owned by former Uttar Pradesh BSP MLC Mohammad. Iqbal and his family members under the provisions of the Prevention of Money Laundering Act,.
The ED had initiated money laundering investigation on the basis of investigation conducted by Serious Fraud Investigation Office (SFIO), Ministry of Corporate Affairs, Delhi relating to acquisition of assets through illegitimate means in 2010-2011 by Iqbal, former MLC Saharanpur and others.
“Namrata Marketing P Ltd and Giriasho Company P Ltd., shell companies under the control of Mohd. Iqbal and family members participated in the bidding process of disinvestment of sugar mills of the UP government during 2010-11 and acquired seven sugar mills across UP through laundering of illegitimate money through various shell companies having dummy directors and sham transactions.
These seven sugar mills were attached under PMLA earlier in March, 2021. ED has taken possession of all these seven sugar mills for further proceedings under PMLA,†the agency said in a statement.
In continuation of investigations, earlier the ED had also conducted search operations in premises relating to Iqbal in Saharanpur and Delhi. Further, under PMLA
investigations, it has been found that Iqbal and his family members acquired land at Saharanpur in the name of the company BSS Associates in 2015 through staged transactions and commission of offence of fraud under Companies Act, it said.
