MM TAX CLUB

Directorate of Enforcement (ED) has arrested Nitin Tibrewal and Amit Agrawal on 12.01.2024 under the provisions of Prevention of Money Laundering Act (PMLA ), 2002 for their role in the operations of Mahadev Online Book. The arrested accused were produced before the Hon’ble PMLA Special Court, Raipur who has granted both the accused persons to ED Custody for 5 days till 17.01.2024

ED initiated investigation on the basis of FIRs registered by Chhattisgarh Police. Subsequently, other FIRs registered by Vishakhapatnam Police & other States were also taken on record. M/s Mahadev Online Book Betting APP which is an umbrella syndicate arranging online platforms for enabling illegal betting websites to enrol new Users, create User IDs and laundering of money through a layered web of benami Bank accounts 

ED investigations revealed that Nitin Tibrewal is the majority shareholder of M/s Techpro IT Solutions Ltd. Investigation further revealed that this company was acting as front for Mahadev Online Book and investing the proceeds of crime generated out of illegal operations in India by way of Foreign Portfolio Investment. Nitin Tebriwal tried to conceal this fact despite multiple opportunities granted to him. He also did not reveal his foreign bank accounts and assets before the ED which have been discovered by the ED during the course of investigations. Thus, Nitin Tebriwal was found to be knowingly assisting in layering the proceeds of crime by investing it in his name and through associated Indian and foreign entities.

ED investigations revealed that Amit Agrawal is the brother of Anil Kumar Agrawal who is also a partner in Mahadev Online Book. Amit Agrawal has knowingly utilized the proceeds of crime emanating out of Mahadev Online Book in purchasing assets in his name and name of his wife's. To fund these purchases, Amit Agrawal arranged entries totalling Rs. 2.5 Crore in his and his wife's bank accounts against cash. In the statements recorded before the Directorate, he maintained these bank entries are loans, however, the entry operator involved in the transactions revealed the truth. Thus, Mr Amit Agrawal was found to be knowingly assisting in concealing the Proceeds of Crime emanating out of the betting operations of Mahadev Online Book.

In this case, movable properties totalling Rs. 572.41 Crore have been seized/frozen during searches conducted under the PMLA, 2002. Two Provisional Attachment Orders have been issued, attaching movable and immovable properties valued at Rs. 142.86 Crore. Prosecution complaints dated 20.10.2023 and 01.01.2024, have been filed in the case. Two additional accused have been arrested, bringing the total to eight accused apprehended in connection with the case. 

Directorate of Enforcement (ED) has arrested 05 persons namely Suresh Kumar AKA Suresh Sau, Vijay Damore, Peeraram, Pukhraj, and Arun Sharma under the provisions of Prevention of Money Laundering Act (PMLA), 2002 on 11.01.2024 in the matter of Paper Leak Case of Senior Teacher 2 nd Grade Competitive Examination, 2022 in Rajasthan. The arrested persons were produced before the Hon’ble Special Court (PMLA), Jaipur and the Hon’ble Court granted 03 days ED Custody. 

ED initiated investigation under the PMLA, 2002 on the basis of FIRs/Charge-sheets registered/ filed by Rajasthan Police, under various sections of IPC against Babulal Katara, Anil Kumar Meena AKA Sher Singh Meena and the above mentioned arrested persons.

ED investigation revealed that Arun Sharma provided 29 candidates ( for whom leaked papers were arranged and who were appearing in the above said competitive examination) to Anil Kumar Meena in lieu of Rs. 2 Lakh per candidate. Anil Sharma also paid Rs. 10 lakhs in advance to Anil Meena in lieu of getting the leaked papers for the candidates. Further, Peeraram was involved in the said paper leak since he provided his own bus for facilitating and tutoring the right answers of leaked question paper to candidates on the instruction of Suresh Sau. Further Pukhraj was involved since he arranged the stay of candidates, assisted in providing the solution of the leaked question paper and also appeared in the examination held on 21.12.2022 for which he got the concerned leaked paper from Suresh Sau. Further, Suresh Sau was actively involved in paper leak case for the promised felonious amount of Rs. 1 Crore from Bhupendra Saran and Suresh Dhaka. He took the said leaked question paper from his brother in law and main mastermind of the said Paper Leak Scam, Suresh Dhaka, and provided the question paper and solution to the appearing candidates. Further, Vijay Damore had written down the questions of GK paper in a register on the instruction of his maternal uncle Babulal Katara (Member of RPSC) and supplied the said register to Anil Kumar Meena AKA Sher Singh Meena, who in turn supplied it to Bhupendra Saran, Arun Sharma and others in exchange for felonious money. 

In this case, ED had earlier conducted two searches at 22 premises of accused persons on 05.06.2023 and 13.10.2023, resulting in recovery of incriminating documents/digital records. Further, ED had also provisionally attached movable & immovable properties worth Rs. 3.11 Core approx. of Babulal Katara, Anil Meena AKA Sher Singh Meena and Others vide Provisional Attachment Order dated 18.08.2023. Also ED had earlier arrested 03 accused persons namely Babulal Katara, Anil Kumar Meena and Bhupendra Saran in the matter. Prosecution Complaint against Babulal Katara, Anil Kumar Meena and Bhupendra Saran have also been filed by ED on 09.11.2023 before the Ld. Special Court of PMLA at Jaipur. 

Further investigation is under progress.

Directorate of Enforcement (ED) has conducted searches on 13.01.2024 under the provisions of Prevention of Money Laundering Act (PMLA), 2002 at 8 premises in Jabalpur, Katni, Satna and Rewa of Madhya Pradesh in the matter of M/s Jagdamba AMW Automotives Pvt. Ltd. & others. During the search, the main accused Pushpendra Singh, director of M/s Jagdamba AMW Automotives Pvt. Ltd. was arrested at Jabalpur, and cash of Rs. 16 lakhs was seized from the residential premise of Pushpendra Singh along with documents of immovable properties. The arrested person was produced before the Hon’ble Special Court (PMLA), Jabalpur on 14.01.2024 which sent the accused person to ED custody.

ED initiated investigation on the basis of FIR registered/Charge-sheet filed by CBI, BSFB, New Delhi under various sections of IPC and Prevention of Corruption Act, 1988 against M/s Jagdamba AMW Automotives Pvt Ltd and its directors and Branch Manager of Canara bank, SME Branch, Jabalpur.

ED investigation revealed that Pushpendra Singh through M/s Jagdamba AMW Automotives Pvt Ltd in connivance with Krishna Dutt Dubey (deceased), the then branch Manager and others committed a fraud to the tune of Rs. 14.93 Crore, during April 2015 to March 2016, by way of wrongful sanction and disbursal of 50 vehicle loans (Truck Loans) on the basis of forged and fabricated documents issued by M/s Jagdamba AMW Automotives Pvt Ltd. The loan proceeds in all cases were transferred to the bank account of dealer i.e. M/s Jagdamba AMW Automotives Pvt Ltd but in majority of the cases dealer did not deliver the vehicles to customers and loan accounts became NPA which caused a wrongful loss to bank to the tune of Rs.14.93 Crore. Further, the said loan proceed was siphoned off from the bank accounts of M/s Jagdamba AMW Automotives Pvt Ltd through RTGS/ cash withdrawal/ repayment of other term loans etc. for his personal use and did not pay the same to the AMW vehicles manufacturer company M/s AMW Motors Ltd for which the loans were sanctioned. Thus, Pushpendra Singh was found to be have knowingly indulged in the processes and activities connected to proceeds of crime.

Further investigation is under progress.

Directorate of Enforcement (ED) has provisionally attached 62 immovable properties worth Rs.30.28 Crore approx. belonging to M/s Heera Construction Co. Pvt. Ltd., its MD Abdul Rasheed, his trust M/s Heera Educational and Charitable Trust and sister company M/s Heera Summer Holiday Homes Pvt. Ltd. as proceeds of crime, in a bank fraud case. 

ED initiated investigation on the basis of FIR registered by the CBI, ACB Cochin under various sections of the IPC, 1860 and PC Act, on the basis of complaint filed by the State bank of India, Kowdiar, Thiruvanathapuram branch against M/s Heera Construction Co. Pvt. Ltd., its MD Abdul Rasheed, and others.

ED investigation revealed that M/s Heera Constructions Co. Pvt. Ltd., its MD Abdul Rasheed and other accused persons had cheated the State bank of India, Kowdiar branch by fraudulently selling the primary and collateral securities mortgaged with the bank also defrauded in repayment of loan. Thereby the accused persons generated proceeds of crime of Rs.34.82 Crore by committing offences.

ED investigation further revealed that the accused persons namely M/s Heera Constructions Co. Pvt. Ltd., its MD Abdul Rasheed and other family members have generated proceeds of crime, invested the same in multiple immovable properties in their personal name and in the name of their companies and trust in Kerala and projected them as untainted properties in violation of section 3 of PMLA, 2002.

Further to the above, Abdul Rasheed the MD of M/s Heera Construction Co. Pvt. Ltd. was arrested on 4.12.2023 under PMLA, for being directly involved in the offence of money laundering and generation of proceeds of crime. Abdul Rasheed, MD of M/s Heera Construction Company Pvt. Ltd., also committed offence of money laundering by diverting funds received by selling other projects mortgaged with State Bank of India instead of utilizing the same for repayment of loans taken against them. The Hon’ble Special Court for PMLA, Ernakulam rejected the bail application moved by the petitioner Abdul Rasheed and granted 5 days remand to ED for custodial interrogation of Abdul Rasheed to further unearth more proceeds of crime and to nab other accused persons. Abdul Rasheed is currently under judicial custody till 20.01.2024. 

Further investigation is under progress.