Gujarat: Ed has filed money laundering complaint against Avon Cold Storage

Ahmedabad, June 3 (IANS). The Ahmedabad Zonal Office of the Enforcement Directorate (ED) has filed a charge sheet against Avon Cold Storage Private Limited in terms of the Money Laundry Prevention Act (PMLA), 2002. The charge sheet was presented on May 31 before the Special Court (PMLA), which took the case of the case. The actions of the ED were done after a FIR was submitted by the Central Bureau of Investigation (CBI), anti -corruption branch (ACB), Gandhinagar. The FIR contains the names of directors, private individuals and government employees, who claim the criminal conspiracy of Cheat Union Bank of India (East Andhra Bank). According to the fir, the accused obtained loans of fraud by offering false documents and false records. The ED investigation revealed that Messrs. Avon Cold Storage secured a term loan facility from Union Bank based on the false Proforma invoice allegedly issued by M / S Pamax Engineers Private Limited. The amount corrected for the purchase of plants and machinery to set up a coolness unit was withdrawn by the network of institutions and eventually a cash amount of Rs 3.92 crore was withdrawn, which saved no valid funds. The investigation found that the loan amount was derived for unrelated objectives of the objectives mentioned in the loan agreement. So far, movable and immovable properties of about Rs 1.30 crore have been temporarily seized by the ED. Officials said further investigation in the case is still underway. Meanwhile, in May, Ed made raids in Ahmedabad, focusing on alleged financial irregularities related to WAQF properties. The investigation included individuals accused of illegal construction on unauthorized trustees and trust properties, which led to illegal income. The properties seized include Rs 30 lakh cash and cryptocurrency of seven lakh calls, along with two Crore Rupees bank balance. In October 2024, the ED 23 complex over Gujarat attacked, including cities such as Ahmedabad, Rajkot and Surat in connection with the GST fraud case. The investigation into the scam expressed concern about large -scale tax evasion and money laundering. -Ians PSK/Ekd Share this Story Tags