The Enforcement Directorate on Saturday attached properties worth `27.86 crore of former IAS officer Babulal Agrawal under the Prevention of Money Laundering Act in cases related to criminal misconduct and cheating by a public servant.
The attached assets include plant and machinery, balances in bank accounts and immovable properties of Agarwal and his family members.
The ED initiated investigation under PMLA on the basis of FIR registered by Anti-Corruption Bureau (ACB), Chhattisgarh under Prevention of Corruption Act, leading to disclosure of the disproportionate assets amassed by Agrawal and his family members following searches conducted by the Income Tax Department in February 2010.
The IT Department had then conducted searches at the premises of Agrawal, his CA Sunil Agrawal and his family members.
Further, three more FIRs were registered followed by chargesheets filed by the CBI against Agrawal and others. These FIRs were registered under various Sections of the Indian Penal Code and Prevention of Corruption Act.
“Investigation under PMLA revealed that Babu Lal Agrawal in connivance with his CA Sunil Agrawal and his brother Ashok Agrawal and Pawan Agrawal opened more than 400 bank accounts in the name of gullible villagers of Kharora and its nearby villages. Cash was deposited in these accounts and several other accounts, 13 shell companies owned and operated by CA Sunil Agrawal, 26 Delhi and Kolkata-based other shell companies as well as the sister concerns of Prime Ispat Limited (a company owned and managed by family members of Babu Lal Agrawal) were used in placement and layering of this cash generated from corrupt means which was finally integrated in the form of share capital including share premium in Prime Ispat Limited (PIL),” the ED said in a statement.
Out of the above, the ED had already attached properties of PIL to the tune of `35.49 crore in the year 2017, it said.
Now, remaining plant and machinery to the tune of `26.16 crore has been attached. Besides this, bank balance of Rs 20.43 lacs lying in 291 bank accounts, a residential plot worth `39.52 lacs in the name of Xpress Mining Pvt. Ltd. (an entity owned and operated by family members of Agrawal), Rs 15 lacs recovered during the Income Tax search, balance of `4.75 lacs in the bank account of one firm Capstone, a residential plot worth `10.25 lacs in the name of another company Shri Ram Vihar (both partnership firms owned and operated by family members of Agrawal), cash of `39.81 lacs and two Kg gold recovered by CBI have been attached under PMLA.
Agrawal was arrested by ED on November 9 this year and he is in judicial custody till December 5. Further Investigation in the case is under progress, the agency added.