New Delhi: Enforcement Directorate (ED) has filed a prosecution complaint against former IAS officer Babulal Agrawal and other associates who are associated with Raipur based company – Prime Ispat Ltd under Prevention of Money Laundering Act (PMLA) in a case relating to corruption, cheating and forgery.
The investigation by ED was based on FIR registered by Anti-Corruption Bureau, Chhattisgarh which discloses the disproportionate assets amassed by Babulal Agrawal and his family members, pursuant to search action conducted by the Income Tax Department in February 2010 at the premises of Babulal Agrawal, his CA Sunil Agrawal and his family members. Further, three more FIRs were registered followed by chargesheets by CBI against Babulal Agrawal and others.
Investigation under PMLA revealed that Babu Lal Agrawal in connivance with his CA Sunil Agrawal and his brother Ashok Agrawal and Pawan Agrawal, opened more than 400 bank accounts in the name of gullible villagers of Kharora, and its nearby villagers. Cash was deposited in these accounts and several other accounts.
13 Shell companies owned and operated by CA Sunil Agrawal, 26 Delhi and Kolkata based other shell companies as well as the sister concerns of Prime Ispat Limited, a company owned and managed by family members of Babu Lal Agrawal, were used in placement and layering of this cash generated from corrupt means which was finally integrated into share capital including share premium in Prime Ispat Limited (PIL).
The accused Babulal Agrawal was arrested by ED on November 9, 2020 in this case and he is in judicial custody.
According to the officials, now, the prosecution complaint has been filed before PMLA court, Raipur against the accused person with a prayer for rewarding punishment to the accused person and confiscation of attached properties worth to Rs 63.95 Crores.