money laundering | Z+ Insurance

The family of Pune-based realtor D S Kulkarni of the DSK Group on Friday collected some documents and electronic gadgets from his office on JM Road and a bungalow on Senapati Bapat Road in Pune, in the presence of Enforcement Directorate (ED) officials.

Kulkarni had sought permission from a court in Mumbai to take certain documents and electronic gadgets from his office and bungalow seized by the ED, as he required them for the court case against him.

As per the court’s order, ED officials opened the office and bungalow and allowed Kulkarni’s family to collect the materials. The ED officials then sealed the properties again. The officials video-recorded the entire procedure and also prepared a record of documents and other materials taken by Kulkarni’s family.

Since October 2017, the Economic Offences Wing (EOW) of Pune City police has been probing the DSK Group for allegedly cheating around 35,000 depositors and investors to the tune of Rs 1,083 crore, siphoning of Rs 711 crore received in the form of loans, and Rs 111 crore accepted through debentures and a land deal in Fursungi involving embezzlement of Rs 184 crore.

The ED has also launched an investigation into the alleged money laundering case by the group as per provisions of the Prevention of Money Laundering Act (PMLA). In February 2019, the ED had attached assets worth Rs 904 crore of the DSK Group for allegedly defrauding small investors.

According to a statement then issued by the ED, Kulkarni, his wife Hemanti and their son and executive director of the DSK Group allegedly floated eight partnership firms in Mumbai, Pune and Kolhapur to collect deposits from “gullible investors”.

The agency said between 2006 and 2017, the firms raised about Rs 1,129 crore from over 35,000 investors. The immovable properties attached by the ED include land, buildings, flats, insurance policies and cash deposits in bank accounts.

The ED statement said the three officials of the group, “layered and integrated” the funds received by the eight partnership firms “through various high-value sham transactions under cover of capital, advance against property and director’s loan between 40 group companies” of DSK to project it as “untainted money”.

The ED has alleged that the money was then laundered to four DSK firms in India and the US, as well as to the bank accounts of the Kulkarnis. The ED statement also said the laundered money was utilised to purchase properties in India and the US, to repay bank loans and to purchase high-value LIC policies for the Kulkarni family, among others.

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After EC notice to CM Hemant Soren over mining lease, ED summons J’khand mining secretary

After the Election Commission (EC) served a notice to chief minister Hemant Soren over a mining lease, the Enforcement Directorate (ED) has now summoned the state mining secretary, Pooja Singhal.

Jharkhand Chief Minister Hemant Soren and state mining secretary and IAS Pooja Singhal (File)

IAS Pooja Singhal, who is in charge of the mining department of the Jharkhand government, has been summoned by the Enforcement Directorate (ED) in a money laundering case, officials told India Today TV.

Singhal has been summoned to the ED’s Ranchi office for questioning on Tuesday, May 10. The Election Commission (EC) recently served Jharkhand Chief Minister Hemant Soren with a notice for allegedly granting himself a mining licence.

Singhal’s husband, Abhishek Jha, has been questioned by the ED on Sunday and Monday. The ED had raided the official and residential premises of Pooja Singhal on Friday in connection with a corruption case in the state.

The officials had recovered Rs 17.49 crore in cash from the premises of Singhal’s chartered accountant (CA), Suman Kumar, who is now in their custody.

According to the Enforcement Directorate, IAS Pooja Singhal and her husband received cash deposits totaling Rs 1.43 crore when she was charged with irregularities while serving as District Magistrate (DM) in various districts across the state.

The ED also informed a Ranchi special Prevention of Money Laundering Act (PMLA) court that the IAS officer spent the money on life insurance policies. The ED alleged that certain suspicious transactions were made between the IAS officer, her CA, and certain companies.

The ED is also looking into whether Jharkhand Chief Minister Hemant Soren granted himself a mining lease. Pooja Singhal is the mining and geology secretary for the state of Jharkhand.

An ED officer had said that incriminating documents were also seized from the IAS officer’s home during the searches. Meanwhile, the Election Commission recently served Hemant Soren with a notice seeking clarification on his stance on the mining licence controversy.

READ | J’khand: ED takes IAS Pooja Singhal’s CA on remand for 5 days in money laundering case