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Yes Bank fraud: ED files charge sheet against omkar realtors

  • The cost sheet, filed earlier than a particular Prevention of Cash Laundering Act (PMLA) court docket , names chairman of the corporate, Kamal Kishore Gupta, managing director Babulal Varma, and actor and producer Sachiin Joshi.

By Vijay Kumar Yadav, New Delhi

PUBLISHED ON APR 02, 2021 02:49 AM IST

The Enforcement Directorate (ED) on Thursday filed a cost sheet towards actual property firm Omkar Realtors and Builders Pvt. Ltd in a cash laundering probe over the alleged misuse of a 410 crore mortgage from Sure Financial institution.

The cost sheet, filed earlier than a particular Prevention of Cash Laundering Act (PMLA) court docket , names chairman of the corporate, Kamal Kishore Gupta, managing director Babulal Varma, and actor and producer Sachiin Joshi.

The ED stated Omkar Builders took the mortgage for a slum rehabilitation undertaking, however diverted the loans to different roup corporations and in addition these promoted by Joshi.

Varma, 50, and Gupta, 62 had been arrested on January 27, 2021.The cash laundering case towards them is predicated on a First Data Report registered by Aurangabad police in March 2020 for alleged dishonest and felony breach of belief.

ED said that Omkar Realtors and Builders Pvt. Ltd purchased a agency, Surana Building, which had secured rights for redevelopment of Anand Nagar Slum Rehabilitation Authority Cooperative Housing Society at Wadala, and took large loans towards the undertaking.

The case doesn’t appear to be linked to the bigger Sure Financial institution case, the place YES Financial institution’s promoter Rana Kapoor and his household have been accused of laundering cash acquired as kickbacks towards loans that then became NPAs (non performing belongings).

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