The Enforcement Directorate (ED) has provisionally attached two Immovable properties worth ` 2.62 crore situated at Ranchi, Jharkhand belonging to Patliputra Builders Limited under the provisions of the Prevention of Money Laundering Act (PMLA).
The ED had initiated a money-laundering investigation on the basis of the FIRs and charge-sheet filed by Patna Police under the Indian Penal Code (IPC) sections against Anil Kumar Singh, Managing Director of Patliputra Builders Limited, Patna, and others.
Anil Kumar alias Anil Kumar Singh, being the MD of Patliputra Builder Limited and other companies, was involved in the commission of offences like cheating, fraud, dishonesty and grabbing of public money, the ED said in a statement.
As per the FIR, Anil Kumar embezzled the amount of `5.82 crore payable to the employees of “The Newspapers & Publications Ltd†and utilized the money for the acquisition of properties in the name of his company Patliputra Builders Limited.
During the course of the investigation, Kumar was non-cooperative and deliberately avoided the summons issued under PMLA. Non-appearance and non-submission of documents called for clearly show his malafide intention, it said.
The ED had arrested the main suspect Kumar on September 7 and the Special PMLA Court, Patna sent him to judicial custody.
Proceeds of crime generated in cash have been layered through acquisition of properties in the name of his company and use of banking channels in order to conceal the actual origin of tainted money.
