The Enforcement Directorate (ED) final month arrested and questioned an worker and shut confidante of the nephew of former chief minister Kamal Nath in reference to its cash laundering probe within the M/s Moser Baer India loan fraud case.

The company arrested Rajiv Aggarwal, who, based on the ED, was instrumental in laundering the proceeds of crime for Ratul Puri, the then government director of M/s Moser Baer India Ltd.

Looking for custodial interrogation of Aggarwal, the company final month knowledgeable an area court docket that the proceeds of crime generated by siphoning off the loans taken by M/s Moser Baer India Ltd and its subsidiaries, and subsequent transferring of the identical to Rajiv Saxena’s corporations, was coordinated by Rajiv Aggarwal with Rajiv Saxena and his employees.

Saxena, an accused-turned-approver within the Rs 3,600-crore VVIP chopper scandal, is a co-accused within the case.

The company has claimed that in search operations on the premises of a detailed aide of Ratul Puri in July 2019, a number of emails have been recovered which revealed that the emails with regard to third-party remittances despatched to Rajiv Saxena’s corporations have been forwarded to the e-mail id [email protected] utilized by Rajiv Aggarwal, who in flip used to ahead these emails to [email protected] utilized by Ratul Puri.

The ED stated that in a search by revenue tax officers on the premises associated to Paras Mal Lodha, an lodging entry supplier, it was revealed that the third-party transactions through which proceeds of crime have been despatched to corporations of Rajiv Saxena have been coordinated by Rajiv Aggarwal.

The company has additional alleged that proceeds of crime have been transferred in money to the purchasers of Rajiv Saxena in Delhi and Rajiv Saxena used to credit score the account of Ratul Puri in US {dollars} and the identical was coordinated by Rajiv Aggarwal.

It has been additional alleged that Rajiv Aggarwal used his contacts, together with a relative, to ship proceeds of crime to the businesses of Rajiv Saxena.

It was additional acknowledged that within the diary of KK Khosla, an worker of Moser Baer India Ltd, seized by the tax division in 2019, varied transactions have been discovered talked about referring to Rajiv Aggarwal, which revealed that he had actively participated in hawala transfers to the tune of about $80 million.

The ED has claimed that Rajiv Aggarwal was the director and authorised signatory of M/s Wares Buying and selling Personal Ltd, a subsidiary of Ratul Puri’s firm, and despatched $4.85 million in September 2014 to M/s Matrix Group with none switch of precise items.

The ED has alleged that the ledgers maintained within the laptop computer of Rajiv Saxena revealed that Rajiv Aggarwal had made hawala transactions to the tune of $1.5 million, and that the stated funds have been additional transferred on the directions of Rajiv Aggarwal to Indonesia.

Aggarwal was arrested on September 17.

It has been alleged that Rajiv Aggarwal was additionally instrumental in offering lodging entries within the corporations of Ratul Puri.

Counsel for Rajiv Aggarwal denied the costs, alleging that the arrest by the company was malafide.

Aggarwal was confronted with three people within the case, and was later confronted with three extra people, stated individuals with direct information of the matter. Apart from searching for to unearth the modus operandi, the company had sought custodial interrogation of Aggarwal on the bottom that he must be confronted with digital knowledge of roughly 4 TB which was seized by the company throughout investigation.

The ED had filed a cost sheet in opposition to Ratul Puri, nephew of former Madhya Pradesh chief minister Kamal Nath, in October 2019. Puri had repeatedly denied the costs in opposition to him.

The CBI had registered a case on the idea of a grievance filed by Central Financial institution of India for offences of felony conspiracy and forgery for the aim of dishonest, utilizing cast paperwork and felony misconduct by the accused firm, i.e. M/s Moser Baer India and its administrators in conspiracy amongst themselves and with unknown public servants and unknown personal individuals, whereby Central Financial institution of India was cheated to the tune of Rs 354.51 crore.



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