Ahmedabad: ED attaches properties worth Rs. 36.12 crore from retired IAS in PMLA case

The Enforcement Directorate (ED) has attached properties worth Rs. 36.12 crore held by retired IAS officer Sanjay Gupta, his wife and his company Neesa Group under Prevention of Money Laundering Act (PMLA) in case of misappropriation of funds of Metro-Link Express for Gandhinagar and Ahmedabad Company Ltd.

The attached properties consist of flats, plots, and factories located in Ahmedabad.

Investigation under PMLA revealed that Sanjay Gupta during his tenure as Chairman, MEGA company, arbitrarily appointed his close associates in various officials' positions in MEGA who were previously working with him in Neesa Group.

Accused Sanjay Gupta also floated a number of paper/dummy companies with these employees, as Directors and got opened bank accounts of these companies during 2012-13, the agency said in a statement.

These fictitious companies allegedly raised fabricated/bogus bills/invoices to MEGA without any supply of goods/services. The investigation also revealed that Sanjay Gupta didn't adopt any procedure for awarding of work contract in MEGA through the wide circulation of advertisement through media/newspaper. The dummy companies were awarded the contract on the pretext for the supply of goods/services to MEGA and bogus bills/invoices were raised.

Accused Sanjay Gupta also arranged for the deposit of illicit cash and DD/Cheques in the account of these dummy companies, which was generated through purported cheque discounters and in the guise of consideration of allotment of contracts in MEGA.

In this manner, the proceeds of crime totalling to the tune Rs. 65.73 crore was received from MEGA through bogus bills/invoices as well as illicit Cash/DD/Cheques deposits in the accounts of the dummy companies floated and controlled by Sanjay Gupta, the statement said.

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