Raipur (Chhattisgarh) [India], November 28 (ANI): The Enforcement Directorate (ED) has provisionally attached properties worth Rs 27.86 crores of former IAS officer Babu Lal Agarwal under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) in cases related to criminal misconduct and cheating by a public servant, officials said on Saturday.
According to the ED, the attached assets include plant, machinery, balances in bank accounts, and immovable properties of Babu Lal Agarwal and his family members.
The economic offences watchdog had initiated an investigation on the basis of an FIR registered by Anti-Corruption Bureau, Chhattisgarh under several relevant sections of the Prevention of Corruption Act, which disclosed disproportionate assets amassed by Agrawal and his family members, pursuant to search action conducted by the Income Tax department in February 2010 at the premises of Agrawal, his CA Sunil Agrawal, and his family members.
"Investigation under PMLA revealed that Babu Lal Agrawal in connivance with his CA Sunil Agrawal and his brother Ashok Agrawal and Pawan Agrawal opened more than 400 bank accounts in the name of gullible villagers of Kharora, and its nearby villages. Cash was deposited in these accounts and several other accounts," the ED said in a statement.
Further, three more FIRs were registered, after which chargesheets were filed by the CBI against Babulal Agrawal and others under several relevant sections of the Indian Penal Code and the Prevention of Corruption Act dealing with charges of cheating, criminal conspiracy and using forged documents, etc.
"Thirteen shell companies owned and operated by CA Sunil Agrawal, 26 Delhi and Kolkata based other shell companies, as well as the sister concerns of Prime Ispat Limited (a company owned and managed by family members of Babu Lal Agrawal), were used in placement and layering of this cash generated from corrupt means which was finally integrated into the form of share capital including share premium in Prime Ispat Limited (PIL)," the statement said.
"Out of the above, ED had already attached properties of Prime Ispat Ltd to the tune of Rs 35.49 crore in the year 2017. Now remaining plant and Machinery to the tune of Rs 26.16 crore, has been attached," it added.
In addition to it, balance in several bank accounts, residential plots, cash, and gold seized in several raids have also been attached under the PMLA. Babulal Agrawal was arrested by the ED on November 9 and he is in judicial custody till December 5, 2020. (ANI)