New Delhi: The Enforcement Directorate (ED) on Tuesday said it raided premises of Ghosh Brothers group of companies, a prominent business group having multiple car dealerships in Guwahati, as part of a money laundering probe linked to an alleged bank loan fraud against it.
Cash and jewellery worth Rs 63 lakh have been seized by the federal probe agency under the provisions of the Prevention of Money Laundering Act (PMLA), it said in a statement.
The money laundering case was filed by the ED after studying multiple FIRs of the CBI against Ghosh Brothers group of Guwahati and at least five linked entities after a complaint was sent by the IDBI Bank to the CBI.
“The promoter/director of Ghosh Brothers group of companies defrauded the IDBI Bank to the extent of Rs 124 crore by taking loan on the basis of fake and fabricated documents,” the ED alleged.
It said the group and its promoters and directors like Pranab Ghosh, Pratul Ghosh and Gita Rani Ghosh “diverted” part of the bank loan amounts after rotating the money among various accounts maintained by them with other banks to the accounts of other group companies as well as to unrelated parties.
“Majority of the companies were registered at the same address of Ghosh Brothers Motors Pvt Ltd and were found to be shell companies which were used to rotate and divert the proceeds of loan,” the agency claimed.
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