New Delhi: The Enforcement Directorate (ED) said on Friday that it has filed a chargesheet before a special PMLA court in Assam against Subhra Jyoti Bharali, the former Managing Director of the Industrial Co-operative Bank Limited (ICBL) in Guwahati, and others in connection with a case under the Prevention of Money Laundering Act (PMLA).
Earlier, the ED had provisionally attached assets worth Rs 30.50 crore belonging to the family members of Bharali and companies owned by him, his family members and associates.
The ED had initiated the money laundering probe against Bharali, the then MD of ICBL, and others on the basis of an FIR registered by the Pan Bazar police station in Guwahati under various sections of IPC, alleging that Bharali had misappropriated and siphoned off the funds of ICBL.
Another FIR was registered by the Economic Offences Wing of Assam Police against Bharali and others.
During the probe, the ED learnt that exorbitant amounts were credited to the accounts maintained in the names of payment collectors and field executives (PCs & FEs) of ICBL in the guise of salary, incentive and travel allowance.
All the accounts maintained with ICBL in the names of PCs & FEs were operated by Bharali and a substantial part of the amount received as salary, incentive and travel was misappropriated either by the way of cash withdrawal or by transfer to the accounts maintained in the names of entities owned, controlled and operated by Bharali.
An amount of Rs 4.5 crore was siphoned off from the ICBL by disbursing over-draft loans in the names of 11 unworthy creditors.
“A part of the loan amount being sanctioned to self-held groups (SHGs) by the ICBL was collected as fixed deposit in Asomi Thrift & Credit Co-operative Society Ltd. The entire proceeds of these amounts were siphoned off and utilised by Bharali.
By way of commission of scheduled offence, proceeds of crime amounting to around Rs 30 crore was generated by Bharali and others. The proceeds of crime was integrated into the financial system by way of infusing the majority of the proceeds in the name of Sashi Kumar Tea Company Pvt Ltd (SKTCPL),” the ED said.
It said that a part of the proceeds of crime was also utilised in the acquisition of immovable properties in the names of the family members of Bharali.
–IANS
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