The Enforcement Directorate (ED) submitted a second supplemental prosecution complaint before the honourable special PMLA court in Kolkata under the Prevention of Money Laundering Act, 2002, against the Saradha Group of Companies and others. On the same day, the prosecution’s complaint was taken under consideration by the Honourable Court.
In a vast portion of Eastern India between the years of 2009 and 2013, The Saradha Group participated in the illicit collection of a sizable quantity from unwitting investors without receiving the necessary authorization from the regulatory authorities. Later, the Saradha Group misappropriated the public monies for the advantage of the founders’ individual needs and stopped making payments to investors.
The ED has so far issued nine attachment orders in this matter that temporarily attach assets totalling more than Rs. 380 crore. The prosecution has already filed a case against 26 of the defendants. Eight more defendants have been included in the current supplemental complaint for suspected violations of Sections 3 and 70 of the 2002 Prevention of Money Laundering Act.
Instant Supplementary Prosecution Complaint has been filed against Rajat Kumar Majumder, Ex. DGP of Armed police, West Bengal, Debendranath Biswas ex IPS, Debabrata Sarkar, an Executive Committee Member of East Bengal Club, Sandhir Agarwal, Sajjan Agarwal, Naresh Balodia, Advocate and Anubhuti Printers and Publication Pvt. Ltd., Guwahati for acquiring Proceeds of Crime from Saradha Group of companies and for concealing and projecting it as untainted property. Further research is now being conducted.
