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HP CM money laundering probe: ED raids in 3 states

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New Delhi: In course of the investigation of the money laundering charges against Virbhadra Singh, Chief Minister of Himachal Pradesh, sleuths from the Enforcement Directorate directed searches in several properties on three states, on Friday.

A select few of Singh’s associates and the individuals named in the agency-registered FIR in Delhi faced raids, which were carried out in Kolkata, Mumbai and the national capital itself, informed sources.

Business entity premises that allegedly received funds from Singh’s associates also underwent raids which were carried out since early morning today, the sources added.

The money laundering case under provisions of the Prevention of Money Laundering Act (PMLA) was filed by the ED against Singh after taking into account the CBI criminal complaint filed in September.

“Important” documents have come into the hands of the investigators which will be studied to find out the “proceeds of crime”, which Singh and his associates allegedly channeled using illegal procedures, informed sources.

An amount of Rs 6.1 crore was allegedly amassed by Singh and his family with the time period of 2009 to 2011 when Singh held the position as the Union Minister of Steel. Singh claimed that the amount, which CBI has alleged to have been used in creating life insurance policies in his own name and that of his family members during this period, came from his agricultural income. This was carried out through LIC agent Chauhan.

Singh allegedly even filed revised revised Income-Tax returns in an attempt to legitimize this claim in 2012.

 

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The CBI Arrests Two Senior Retired Officers Of Bank Of India

The agency in an FIR had said that the DPIL, which manufactures electric cables and

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The CBI Arrests Two Senior Retired Officers Of Bank Of India: Bank Of India Fraud
The CBI Arrests Two Senior Retired Officers Of Bank Of India: Bank Of India Fraud. IANS

The CBI today arrested two senior retired officers of Bank of India in connection with alleged loan fraud of Rs 2,654 crore by Vadodara-based Diamond Power Infrastructure Ltd. (DPIL) in the bank. V V Agnihotri and P K Shrivastava, retired GM and DGM respectively, had allegedly granted undue favours to the company in granting credit limits, the officials said.

They said both have been arrested today and will be produced before special court in Ahmedabad tomorrow.The promoters of the company were arrested in April this year. The agency in an FIR had said that the DPIL, which manufactures electric cables and equipment, is promoted by Suresh Narain Bhatnagar and his sons Amit and Sumit, who are also the directors of the firm.

Bank of India
Bank of India. Flickr

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The loan, it said, was declared a non-performing asset in 2016-17. “It is alleged that the DPIL, through its management, fraudulently availed credit facilities from a consortium of 11 banks (both public and private) since 2008, leaving behind an outstanding debit of Rs 2,654.40 crore as of June 29, 2016,” the agency had said. (IANS)