Pranjil Batra, the former software manager of M/s. Future Makers Lifecare Pvt. Ltd., a Hisar(Haryana)-based company, has had movable and immovable properties worth Rs. 81.7 Crore (in the form of bank balances, land, flats, shops, jewellery, etc.) temporarily attached by the Directorate of Enforcement (ED).
On the basis of seven FIRs filed in the states of Telangana and Haryana, the ED launched an inquiry into money laundering. The company engaged in Ponzi schemes, where those at the top of the pyramid profited at the expense of others at the base who lost money.
According to an ED probe, Pranjil Batra, the company’s software manager, used fraudulent identification documents and the personal bank accounts of members of his family and close friends to steal approximately Rs. 59.7 crores from the company’s accounts. Through a variety of shell companies, a substantial portion of the money that was thus fraudulently diverted was used to buy a number of properties that have now been attached. On March 10, 2022, Pranjil Batra was detained, and on May 7, 2022, a prosecution complaint was brought before the Hon. Special Court in Panchkula.
Previously, properties worth Rs. 261.9 Crore that belonged to the Company and its Directors, Radhe Shyam and Bansi Lal and Others, were attached and afterwards certified by Ld. Authority for adjudication. The overall proceeds of crime identified and attached in the case total roughly Rs. 343.6 Crore after this attachment of Rs. 81.7 Crore. The probe is being expanded upon.
