New Delhi [India], November 5 : Directorate of Enforcement (ED), Jalandhar Zonal Office filed a Prosecution Complaint before the Special Court (PMLA), Mohali against Charanjit Singh Bajaj and four other accused including the company Pure Milk Products Private Limited (PMPPL) in a alleged money laundering case related to bank fraud of Rs 62.13 crore, said officials.
The Special Court took cognizance of the Prosecution Complaint on October 30, 2024. ED initiated an investigation based on an FIR registered by the Central Bureau of Investigation, EOU-IV, New Delhi, under various sections of the IPC, 1860, and the Prevention of Corruption Act, 1988, said officials.
ED investigation revealed that the above-mentioned form did not use the loan for the intended purpose for which it was granted. Charanjit Singh Bajaj, MD of M/s PMPPL, allegedly diverted the Proceeds of Crime (PoC) through various shell entities. Further, PoC to the tune of Rs 37.82 Crore was diverted to various related entities using fraudulent methods, said officials.
ED had previously conducted a search at 11 different premises which led to the recovery of cash of Rs 1.14 Crore and gold, added the statement.
Earlier, ED had also attached immovable properties worth Rs. 24.94 Crore, said officials.
More details into the matter are awaited. Further investigation is under progress.