THE JHARKHAND STORY DESK
New Delhi, March 20: In relation to a bank fraud case worth Rs 40.92 crore, the Enforcement Directorate (ED) announced on Wednesday that it has filed a prosecution complaint against six individuals, including jailed Aam Aadmi Party (AAP) MLA from Punjab Jaswant Singh Gajjan Majra.
Earlier, Jaswant was arrested by the ED on June 11 last year under the regulations of the Prevention of Money Laundering Act, 2002. Currently, he remains in the judicial custody of the special PMLA court in Mohali.
In the case of Tara Corporation Limited and others, the agency’s Jalandhar Zonal Office filed a prosecution complaint (PC) on January 5 before a special Prevention of Money Laundering (PMLA) Act court in Mohali, Punjab, against Jaswant, the former director of Tara Corporation Limited and Tara Health Food Limited, as well as six other accused parties, including three companies. On March 18, the court took cognizance of the prosecution’s complaint.
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Investigation reveals diversion of funds
Based on a First Information Report (FIR) filed by the Central Bureau of Investigation against Jaswant Singh, Tara Corporation Limited, and other parties, the ED launched an investigation.
“ED investigation revealed that the loan amount of Rs 40.92 crore availed by Tara Corporation Limited through criminal conspiracy and cheating had been diverted to various bogus firms from Tara Corporation Limited and thereafter integrated into Tara Health Food Limited (THFL) and Tara Sales Limited,” the ED stated.
Additionally, the federal agency mentioned that sums totalling Rs 3.12 crore had been redirected to the personal accounts of Jaswant Singh, along with Rs 33.99 crore to THFL.
Previously, the ED had seized immovable property valued at Rs. 35.10 crore, which was utilized in the commission of money laundering offenses.
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