The Directorate of Enforcement (DoE), Raipur, has attached the properties of M/s Alankar Alloys Pvt. ltd. and M/s Pankaj Ispat ltd, who were found involved in illegally manufacturing and selling SAIl brand TMT bars, Ashok Kumar Singh, Assistant Director, DoE, said on Friday.

The property running into several crores along with luxurious cars were attached on March 26 by the DoE.Singh said that two office premises at Samta Colony, five flats in different locations at Raipur, one plot measuring 5059 sq. ft at Ramsagar Para, and four cars which include one Audi and one BMW valuing Rs6.74 cr, have been attached.

It may be recalled that on April 2, 2013, receiving complaints from the officials of Steel Authority of India limited, the Raipur police had raided the factory premises of Pankaj Ispat ltd located in Gogaon and Alankar Alloys at Borjhara Road near Guma. During the raid, police found that the said companies were involved in manufacturing SAIl Brand TMT Bars and selling it to parties outside the state of Chhattisgarh through M/s Baid Steel Pvt. ltd., Raipur.

Cases were registered against both the firms, Singh said, under the provisions of the Prevention of Money laundering Act 2003, as these companies were found to be involved in illegally manufacturing ‘Sail brand’ TMT bars and thereby committing the offence of the provisions of the Trade Mark Act.

Steel Authority of India limited is a ‘Navratna’ public sector undertaking of Govt of India and by illegally manufacturing SAIl brand TMT bars the above companies at Raipur not only caused damage to the reputation of the Steel Authority of India but also amassed huge money by selling spurious SAIl brand TMT bars of higher prices which was taken serious note of by the Enforcement Directorate, the Assistant Director maintained. 

He further informed that during the course of investigation the bank accounts of the companies, its directors and family members were critically examined and 18 firms outside Chhattisgarh were interrogated and vital information was obtained from 13 firms. The proceeds from the crime was determined and the properties derived out of the criminal activity was located and the said properties were attached on Wednesday by the ED.

The factory owners, lalit Agrawal and his son Pankaj, who were on the  run after the exposure of the case were arrested on September 7, 2013 from Maharashtra.