Gurugram zonal team of Enforcement Directorate (ED) has taken major action in the bank scam case of Rs 1392 crore. ED has filed a charge sheet in this case on December 15 against the then directors and shareholders of Allied Strips Limited (ASL). ED has filed this chargesheet in the Special PMLA Court, Gurugram against ASL Gaurav Aggarwal and Mohander Aggarwal, Kolkata-based entry operator Jagdish Prasad Purohit and several related and unrelated companies.
The Enforcement Directorate (ED) had started this investigation on the basis of the FIR registered by CBI, New Delhi. This FIR was registered on the complaint of Canara Bank. It is alleged that Allied Strips Limited and its promoters misused the loan taken from the bank and diverted the money and caused a loss of about Rs 1392.86 crore to the banks. This consortium was led by Canara Bank.
Land and property purchased in the name of the company
Investigation has revealed that this company manufacturing steel products kept sending huge amounts of money from bank accounts to different companies and vendors in the name of advance. No attempt was later made to withdraw these advances. According to ED, this was the company’s method by which the bank’s money was withdrawn. In this case, cash was taken in return from the companies to which advance was given. The cash amount was repatriated to the company through fake transactions with the help of an entry operator in Kolkata and then with this money, land and property were purchased in the name of the company.
Money given to many companies, not returned
ED investigation found that Allied Strips Limited gave the loan amount as advance to several unrelated companies. About Rs 48.68 crore were given to these companies, which have not been returned till date. In this case, ED has already temporarily attached immovable properties worth Rs 44.09 crore. These properties belong to Suncity Projects, Eurekas Infrastructure and other related companies. Till now, the total amount of attachment and seizure in this case has reached Rs 45.51 crore.
The company had gone into bankruptcy process
It is noteworthy that Allied Strips Limited had gone into insolvency process (CIRP) in the year 2018. Later, GP Global Energy Private Limited was selected as the successful resolution applicant and the resolution plan of approximately Rs 233.71 crore was approved by NCLAT on 6 May 2022.
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