The Enforcement Directorate (ED) has taken provisional action by attaching assets valued at Rs. 2.84 Crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the ‘Post matric Scholarship Scam.’ The attached assets include seven plots valued at Rs. 76,83,000/- registered in the name of Syed Ishrat Hussain Jafri, a flat worth Rs. 52,00,000/- owned by his wife Rachna Jafri, two plots valued at Rs. 76,55,000/- in the name of Praveen Singh Chauhan, and one plot valued at Rs. 24,00,000/- owned by his wife Hema Singh.
Additionally, one plot worth Rs. 35,50,000/- registered in the name of Ram and Shyam Educational Society, acquired by Ravi Prakash Gupta, and a balance of Rs. 19,69,000/- in the bank account of Vikram Nag has been provisionally attached.
The ED initiated an investigation into this matter based on intelligence received and the subsequent registration of an FIR dated 30.03.2023 by the UP Police (PS Hazaratganj) following information provided by the ED.
The investigation conducted by the ED uncovered that managers and trustees of the Hygia Group of Institutes and SS Group of Institutes orchestrated the admission of fictitious students into their institutions and applied for scholarships in their names through the Government portal. The scholarships obtained were then transferred to the colleges’ accounts and subsequently withdrawn in cash or moved to personal accounts, leading to the misappropriation of Government funds amounting to crores.
As of now, four individuals have been apprehended in connection with this case. Previously, a Provisional Attachment Order was issued, attaching both immovable and movable properties valued at Rs. 3.24 Crore in the names of the managers and trustees of the implicated colleges. A Prosecution Complaint was filed against the accused individuals before the Special PMLA Court, and further investigations are currently underway.
