Money Laundering Case: ED Attaches Properties Of Ex MLA (Odisha)
July 30: Property of over Rs 3.92 crore belonging to former Cuttack-Choudwar MLA Pravat Biswal, has been attached by the Enforcement Directorate on Saturday, in connection with money laundering case.
The Directorate of Enforcement(ED) has provisionally attached movable and immovable assets worth Rs. 3,92,20,000 belonging to Pravat Ranjan Biswal, ex MLA, Cuttack and M/s Media Guru Consultants Private Ltd under the Prevention of Money Laundering Act (PMLA), 2002 in a ponzy scam case.
According to the ED, the ex-MLA made huge collection of deposits from the public in guise of of preferential shares by enrolling the depositors as members of cooperative societies, said in a press release.
Moreover, these companies have collected huge cash deposits without being registered as Non-Banking Finance Company (NBFC) with Reserve Bank of India (RBI) nor listed in National Stock Exchange of India (NSEI).
The attached assets include bank balance of Rs 25 Lakhs at SBI Cuttack Branch belonging to Pravat Ranjan Biswal and one immovable property belonging to M/s Media Guru Consultants Private Ltd. in NOIDA, Gautam Buddh Nagar, Uttar Pradesh.
Investigation was initiated under PMLA, 2002 on the basis of FIR and Chargesheet filed by the Economic Offence Wing (EOW) of Crime Branch, Odisha Police and FIR, Chargesheet filed by CBI, under various sections of the Indian Penal Code against M/s Seashore Group of Companies which were involved in the process of money laundering.
From the alleged fraudulently collected huge amount, Rs 25 Lakhs was diverted to the ex-MLA & his family members and Rs 4 Crore was diverted to M/s Media Guru Consultants Private Ltd to set up a News and Current Affairs TV Channel named STV SAMACHAR.
The ED has earlier attached properties worth Rs. 258 crore by issuing four PAOs which were duly confirmed by the Adjudicating Authority under PMLA and also filed Prosecution Complaint before Special Court (PMLA).
