In accordance with the Prevention of Money Laundering Act (PMLA), 2002, the Directorate of Enforcement (ED) searched three Patna locations (residential and business premises) connected to M/s Mohan Alankar Jewelers and Co. on January 2, 2024.
On January 4, 2024, Sourav Kumar, the son of the company’s owner, was taken into custody in connection with a Kotak Mahindra Bank fraud. After that, Sourav Kumar appeared before the Honourable CJM Court in Patna, whereupon he was placed under judicial custody till January 12, 2024.
The Competent Authority for Land Acquisition (CALA)/District Land Acquisition Officer (DLAO) bank account allegedly underwent fraudulent transactions totalling Rs. 31.93 Crore, and funds were siphoned off using bank accounts of various shells/dummy entities, causing a significant loss to the government exchequer.
This information led to the ED opening an investigation based on the FIR filed by Gandhi Maidan P.S. Patna under various sections of the IPC, 1860, and the charge sheet that followed.
The results of the ED investigation showed that, of the approximately Rs. 31.93 crore in fraudulent transactions, Rs. 5.34 crore were transferred from the aforementioned government account to the bank account that M/s Mohan Alankar Jewellers and Co. kept with Kotak Mahindra Bank, Boring Road Branch, Patna.
The ED probe also showed that Sourav Kumar oversees and handles all of the company’s commercial operations and that he supported and collaborated with the accused to embezzle government monies while also holding a portion of them.
As the investigation unfolds, the Mohan Alankar Jewelers case underscores the ED’s commitment to probing financial irregularities and money laundering activities, ensuring accountability and legal action against those involved. Additional research is currently being conducted.
