NEW DELHI: The Enforcement Directorate (ED) has attached immovable properties worth Rs 1.08 crore of M/s Kaushalya Infrastructure Development Corporation Ltd (KIDCL)under the Prevention of Money Laundering Act, 2002 (PMLA).
The ED launched an investigation based on an FIR filed by the CBI in Ranchi, alleging embezzlement of Rs 1.08 crore in government funds.
The ED Money Laundering Investigation revealed that the contracting company presented 59 invoices issued by Hindustan Petroleum Corporation Ltd. (HPCL), Tatanagar, only 33 of which were found to be legitimate. The remaining 26 bills, totalling 560.959 MT of bitumen valued Rs. 1.08 Crore, were discovered to be fake/forged.
The Engineers of RCD, Daltonganj dishonestly certified these fake/forged bills, resulting in an undue payment of Rs 1.08 Crore to KIDCL in a fraudulent manner.
Accordingly, immovable assets worth Rs. 1.08 Crore involved into the offence of money laundering representing the proceeds of crime were duly identified in the name of KIDCL and attached provisionally.