Mumbai: Ed has been temporarily attached housing bungalow worth RS 191 Crore side by side with Ceejay House, Worli, in the case of money laundering related to the case of bank fraud against Sanjay Singal, ex-cmd Bhushan Power & Steel Ltd (BPSL), and others.
Previously, Ed had an attached asset worth Rs 4,230 Crore in the BPSL case.
Ceejay House, along with bungalows, built by Millennium Developer, a company of NCP Pressur Patel leader.
Ed Investigation found that the funds used for purchasing bungalows with LLP real estate insurance were sucked from BPSL and were transferred through Shell Companies, projecting them as loans without collateral.
Ed said that it has found that “loans without guarantees are given without documentation and payment obligations.” Previously, Ed had investigated bungalow purchase transactions in a separate money laundering case registered with drug smugglers, Iqbal Memon aka Mirchi because part of the plot where the Ceeyjay House and Bungalow were built owned by Mirchi.
In the case of BPSL, Ed said the company and director deliberately failed to pay a number of loans to lenders and financial institutions according to the timing schedule and that their account remained irregular.
Furthermore, the lead bank, Punjab National Bank (PNB), stated that a BPSL account as a non-performing asset (NPA) in December 2015.
The Ed registered money laundering case against BPSL Ex-Cmd Sanjay Singal based on CBI FIR in April 2019, at Where is the guess that the company utilizes a loan facility worth RS 47,204 Crore from 33 banks and financial institutions between 2007 and 2014 and failed to pay.
Ed said that BPSL and the other accused signed a criminal conspiracy among themselves and with unknown bank officials to deceive banks and financial institutions.
Ed was investigating that the defendant was dishonest and cheating to divert a large number of bank funds through the company, Shell company and entity and intentionally failed to pay bank loans.
Ed stuck a bungalow worth RS 190CR in Worli
