ED attaches properties worth Rs. 41.65 crore in demonetised currency conversion case
New Delhi, [India] Feb. 13 (ANI): The Enforcement Directorate (ED) has attached movable properties worth Rs. 41.65 crore of advocates Rohit Tandon and Ashish Kumar, the latter also being the Bank Manager of Kotak Mahindra Bank in the demonetised currency conversion case under the Prevention of Money Laundering Act (2002).
A First Information Report (FIR) was registered by the Crime Branch of Delhi Police after an investigation under the provisions of PMLA, 2002 was initiated by the Enforcement Directorate against Rohit Tandon, Ashish Kumar and Raj Kumar Goel, a Delhi based entry operator.
The investigation had revealed that huge amounts of cash supplied by Rohit Tandon were deposited in various bank accounts of the firms owned by Raj Kumar Goel during the period of November 15 to 19, 2016.
Some part of the demonetised currency was also routed through Real Time Gross Settlement (RTGS) from other bank accounts of Raj Kumar Goel.
The aforementioned had conspired to collect and deposit the demonetized currency in various accounts of the firms from which demand drafts in fictitious names were issued.
The demand drafts were then cancelled to get the money back into the accounts, thus converting the demonetised currency into the monetized currency.
The fictitious demand drafts were issued in active connivance of Ashish Kumar, Branch Manager of Kotak Mahindra Branch in lieu of a commission of 35 percent of net converted currency.
The accused Ashish Kumar, Rohit Tandon and Raj Kumar Goel were arrested on December 27, December 28 and January 9 respectively.
They are now under judicial custody.(ANI)