New Delhi, May 19 (). The Enforcement Directorate (ED) on Friday said it has attached 47 immovable properties worth Rs 121.81 crore and movable properties worth Rs 54.25 lakh belonging to Amar Moolchandani, Vivek Aranha, Sagar Suryavanshi, Khemchand Bhojwani and their family members in a PMLA case.
ED initiates PMLA probe on the basis of FIR lodged by Pune Police against Vinay Aranha of Rosary Education Group and others for loan fraud.
The ED said in a statement that the Joint Registrar (Audit) conducted an audit of Sewa Vikas Sahakari Bank, which detected fraud and embezzlement of Rs 429.6 crore in 124 NPA (non-performing loan) loan accounts.
Based on this audit report, additional FIRs were lodged against the loan beneficiaries and the bank management, including former bank chairman Amar Moolchandani. RBI has also canceled the license of the bank.
Police said the ED is probing the entire bank fraud, in which small deposits of thousands of innocent depositors were siphoned off from illegal loans sanctioned by the bank’s management.
The ED said the investigation revealed that Amar Moolchandani treated public deposits in the bank as his personal money and violated all prudential banking norms.
They illegally sanctioned and granted loans to borrowers known to them in an arbitrary manner. For this, he allegedly charged 20 per cent commission from each loan sanctioned.
The ED said that they have unearthed several benami investments made by Amar Moolchandani and others. The attached properties include immovable properties worth Rs 121.81 crore belonging to Pune-based Amar Moolchandani, Vivek Aranha, Sagar Suryavanshi, Khemchand Bhojwani and their family members and movable properties worth Rs 54.25 lakh of Devi Concrete Products.
FZ
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