Bhubaneswar: Directorate of Enforcement (ED) has filed Prosecution Complaint under the Prevention of Money Laundering Act, 2002 (PMLA) on 5th August 2023 against 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) and its CMD/ Directors, in the Court of the Sessions Judge, Khordha at Bhubaneswar–Cum-Special Court (PMLA), Bhubaneswar with prayer for conviction of the accused and confiscation of properties worth Rs 21.19 Crore.
The Special Court took cognizance of the Prosecution Complaint on 18th August 2023, said an official statement of the ED.
The ED initiated an investigation under the PMLA on the basis of FIR and Charge sheet filed by CBI, BSFB, Kolkata against M/s ARSSDHTPL and others in connection with the loan availed by M/s ARSSDHTPL for executing the construction work of the Damoh-Hirapur Road project of State Govt. of Madhya Pradesh; and wrongful loss of Rs 22.42 Crore to the Central Bank of India, Janpath, Bhubaneswar.
ED investigation revealed that the term loan amount of Rs 56.29 Crore was disbursed to M/s. ARSSDHTPL was diverted to regularize the irregular cash credit loan account of M/s. ARSSIPL.
The loan amounts were then diverted for expenditure which were not related to Damoh-Hirapur Road project and also to a sister concern named M/s ACPL which had no involvement in Damoh-Hirapur Road project.
Earlier, ED had attached assets worth Rs 21.19 Crore by issuing Provisional Attachment Order dated 31st January 2023.
