ED files charge sheet against 3 pvt firms in Rs 22.42cr loan fraud case

New Delhi, Aug 22 (IANS) The Enforcement Directorate (ED) on Monday said it has filed a charge sheet against ARSS Damoh-Hirapur Tolls Pvt. Ltd. (ARSSDHTPL), ARSS Infrastructure Projects Ltd. (ARSSIPL), Anil Contractors Pvt. Ltd. (ACPL) and its CMD, and directors in connection with a PMLA case pertaining to Rs 22.42 crore loan fraud.

"The charge sheet was filed before the special PMLA court in Bhubaneswar with prayer for conviction of the accused and confiscation of properties worth Rs 21.19 crore," said an ED official.

The ED initiated an investigation under the PMLA based on an FIR and chargesheet filed by the CBI.

The ED investigation revealed that the term loan amount of Rs 56.29 crore disbursed to ARSSDHTPL was diverted to regularise irregular cash credit loan account of 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 ACPL which had no involvement in Damoh-Hirapur Road project.

Earlier, the ED had attached assets worth Rs 21.19 crore belonging to the accused.

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