ED searched Punjab’s industrial house for forgery, cheating other offences
Kanwar Inder Singh/ royalpatiala.in
Directorate of Enforcement (ED) has carried out search operations on 27.12.2022 at 11 different business and residential premises of M/s Pure Milk Products Pvt. Ltd (PMPPL), Ludhiana; its directors Charanjit Singh Bajaj, Livtar Bajaj and Gurdeep Kaur; their associated entities, along with the premises of their associates. During the course of search, various incriminating evidences were recovered and seized relating to firms through which turnover of PMPPL had been inflated. The loan availed on the basis of inflated turnover was diverted/siphoned off by the above mentioned entities. Further, property related documents, mobile phones and cash totaling INR 1.15 Crore approx. were also recovered and seized from the searched premises under the provisions of the Prevention of Money-Laundering Act, 2002.
ED initiated money laundering investigations against PMPPL on the basis of FIR registered by the Central Bureau of Investigation, New Delhi, under various sections of IPC Act, 1860; and the Prevention of Corruption Act.
In the aforesaid FIR, it had been alleged that PMPPL had committed the offence of forgery, cheating, submission of forged documents as genuine and other offences. It had also found that credit facilities sanctioned by the bank to PMPPL was Rs.62.13 Crore and the total NPA amount was Rs.60.74 Crore as on 31/10/2019.
ED searched Punjab’s industrial house for forgery, cheating other offences. Further investigation in this case is in progress.