The Directorate of Enforcement (ED) has filed a Prosecution Complaint under the Prevention of Money Laundering Act (PMLA), 2002, against seven accused individuals or entities, including Raj Kumar Gupta, Radhika Mahajan, Rajat Mahajan, Jhelum Industries, Jhelum Infra Projects India Private Limited, I.D. Sood Ispat Private Limited, and New Jammu Flour Mills Private Limited By decision dated 07.11.2022, the Court of Ld. Principal Sessions Judge Jammu has taken cognizance of the matter.
ED launched a money laundering inquiry based on four FIRs that the CBI, STB, New Delhi, and the CBI, ACB, Jammu, had filed. According to an investigation by the ED, the companies M/s Jhelum Infra Projects Private Limited, M/s I. D. Sood Ispat Private Limited, M/s New Jammu Flour Mills Private Limited, and M/s Jhelum Industries (Partnership Firm), all of which are connected to or a part of the Raj Kumar Gupta Group, committed fraud, cheating, forgery, diversion, and syphoning of funds and loans intended and But loans went into default since they weren’t utilised as expected.
Accused In order to divert and syphon off the cash credit loan received in the names of the aforementioned firms, Raj Kumar Gupta and his family have launched multiple concerns in the names of his family and in the names of his workers.
The Ld. Adjudicating Authority had already confirmed the attachment of the accused’s properties worth Rs 20.21 Crore. More research is now being done in this situation.
