The Directorate of Enforcement (ED) lodged a Prosecution Complaint under the Prevention of Money Laundering Act, 2002 (PMLA). The complaint was directed against entities including M/s. ARSS Damoh-Hirapur Tolls Pvt. Ltd. (M/s. ARSSDHTPL), M/s. ARSS Infrastructure Projects Ltd. (M/s. ARSSIPL), M/s. Anil Contractors Pvt. Ltd. (M/s. ACPL), as well as their CMD/Directors.
The complaint was filed in the Hon’ble Sessions Judge’s Court, Khurda at Bhubaneswar – which also serves as the Cum-Special Court (PMLA), Bhubaneswar. The objective was to secure the conviction of the accused individuals and the confiscation of assets valued at Rs. 21.19 Crore. The Prosecution Complaint was formally acknowledged by the Hon’ble Special Court on August 18, 2023.
FIR and Charge sheet filed by CBI, BSFB, Kolkata against M/s ARSS Damoh-Hirapur Tolls Pvt. Ltd. (M/s. ARSSDHTPL) and others in connection with loan obtained by M/s ARSSDHTPL for carrying out the construction work of the Damoh-Hirapur Road project of the state government of Madhya Pradesh; and wrongful loss of Rs.22.42 Crore to the Central Bank of India, Janpath, Bhubaneswar; led ED to launch an investigation under the PMLA.
According to an inquiry by the ED, part of the Rs. 56.29 crore term loan payment was made to M/s. ARSS Damoh-Hirapur Tolls Pvt. Ltd. (M/s. ARSSDHTPL) was used to regularise an erroneous cash credit loan account of M/s. ARSSIPL. The loan funds were subsequently transferred to a sibling company called M/s ACPL, which had no connection to the Damoh-Hirapur Road project, as well as for expenses that were unrelated to that project. Earlier, the ED had issued a Provisional Attachment Order dated January 31, 2023, which attached assets worth Rs. 21.19 crore.
