Bhopal, Dec 7 The Enforcement Directorate (ED) has conducted raids under the Prevention of Money Laundering Act (PMLA) in Indore and Raisen districts of Madhya Pradesh.
ED officials carried out searches at four premises associated with Manoj Parmar and a manager of Punjab National Bank (PNB) Mark Pius Karari.
During the search, various incriminating documents and details of immovable and movable properties were recovered, and have been seized.
In an official statement issued on Saturday, ED said that during the search, statements of certain persons were recorded and a bank account with of Rs. 3.5 lakh has been frozen.
It said that the details of four immovable properties of key persons were also found during the searches.
ED said that the action has been initiated on the basis of an FIR registered by the Central Bureau of Investigation (CBI) against Mark Pius Karari and Manoj Parmar, who have been booked under various sections of BNS.
According to the ED's statement, CBI's chargesheet filed against Paramar and Karari revealed that funds amounting to rupees six crore were availed as loans under the government's schemes, however, the loan amount was used for other purposes.
"An amount of Rs six crore loan was availed under Pradhan Mantri Employment Generation Program and Chief Minister Yuva Udhami Yojna schemes, but were diverted and misutilised," ED said.
It further added that during the investigation, bank account analysis revealed that the bank funds were diverted to various proprietorship concerns, firms and were subsequently withdrawn in cash for the purpose of investment in properties.
Further investigation into the matter is underway.
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