New Delhi: The Enforcement Directorate on Thursday said that it attached properties worth Rs 230.4 crore in the case of ‘Peoples Group, Bhopal, Madhya Pradesh’ in the form of the land, buildings and machinery, colleges, schools, training centre, paper mill, newsprint machinery.
The attachment was done under the provisions of Prevention of Money Laundering Act (PMLA).
The ED case is based on three charge sheet filed by Registrar of Companies, Ministry of Corporate affairs, Gwalior, Madhya Pradesh, against Suresh Narayan Vijaywargia (SN Vijaywargia),Ramvilas Vijaywargia (late), Peoples International and Services Pvt Ltd, PGH International Pvt Ltd and Peoples General Hospital Pvt Ltd under Section 447 of the Companies Act, 2013.
“ED investigation revealed that S. N.Vijaywargia enriched himself and the entities under his control using the money received as FDI, using dubious methods and means, damaging the interest of the shareholders of the 3 companies (Peoples International and Services Pvt Ltd, PGH International Pvt Ltd and Peoples General Hospital Pvt Ltd) which received the FDI,” the agency said in a statement.
It said that the Foreign Direct Investment amounting to Rs 494 crore was received in the three companies of the Peoples Group during 2000-2011 and the same were siphoned off in the form of interest free (or very low interest) ‘loans’, ‘security deposit’, advances and in other such names during 2000 to 2022, to SN Vijaywargia and to related entities under his control, resulting in generation of Proceeds of Crime amounting to Rs 594.65 crore.
The agency claimed that as to how the said proceeds were utilised by SN Vijaywargia, Sarvajanik Parmarthik Jankalyan Nyas (SJPN)(a public Trust on which SN Vijaywargia exercised dominant control as Trustee) and PG Infrastructure and Services Pvt Ltd(a company whose 99 per cent shares are held by SN Vijaywargia) for purchase of properties and creation of assets.
–IANS
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