ED attaches over Rs 84-cr assets of Kanva MD, family
New Delhi, Feb 27: The Enforcement Directorate has attached over Rs 84-crore worth assets in a money laundering probe linked to an alleged funds embezzlement case against a Karnataka-based cooperative society and its promoters, the central agency said Saturday.
The properties, provisionally attached under sections of the Prevention of Money Laundering Act (PMLA), include agricultural and non-agricultural land, buildings, residential flats and factories.
These assets are in the names of N Nanjundaiah (the director of Kanva Group of companies), his family members, some related entities and Harish S, the founder director and president of Sree Kanva Souhardha Co-Operative Credit Limited (SKSCCL).
The assets, worth a total Rs 84.40 crore, are located at Nelamangala, Koratagere, Chikkabalapur, Srirangapatana and Bengaluru in Karnataka and at Madakasira (Anantpur district) in Andhra Pradesh, the ED said in a statement.
Nanjundaiah was arrested from Bengaluru by the agency in this case in August last year. He is in judicial custody at present.
A chargesheet was subsequently filed by the ED before a special PMLA court in Bengaluru.
The ED case, under criminal sections of the PMLA, was filed after studying at least 3 FIRs filed by the Bengaluru Police and a complaint made by the Registrar of cooperative societies against Nanjundaiah and others.
It was alleged that the accused society and its promoters collected Rs 650 crore deposits from the members of public, assuring high rate of interest through commission agents, without maintaining required liquidity .
SKSCCL collected the amounts, through unauthorised collection centers and agents, from more than 1,3000 gullible investors by luring them to pay higher rate of interest (ranging from 12-15 per cent) but cheated them by not paying promised interest and not returning the principal amount even after the maturity, the ED alleged.
The money collected was embezzled and transferred to various accounts of Kanva group of companies and entities, in the accounts of the accused directors and their family members and some others related to SKSCCL.
The agency had earlier said that Nanjundaiah is the mastermind of the fraud that took place in the said society and had diverted more than Rs 180 crore funds to Kanva group of companies .
Loans of huge amount were sanctioned to dubious members of the society without proper surety and security that resulted into huge losses to the society and its bona fide members, the ED had alleged.
With the latest order, the total attachment in this case stands at Rs 339.57 crore.
ED attaches immovable assets worth Rs. 84.40 Crore belonging to N Nanjundaiah, his family members, Harish S & Kanva group of companies & entities situated at Bengaluru and Andhra Pradesh
— ED (@dir_ed) February 27, 2021
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Two held for 'firing' at BJP leader's house in Bengal
Kolkata (PTI): A day before the counting of votes for the West Bengal assembly elections, two persons were arrested on Sunday for allegedly being involved in a firing incident outside the residence of a BJP leader in North 24 Parganas district, police said.
BJP leader Kundan Singh lodged a police complaint, alleging that a few gunmen fired at his house in the Noapara constituency around Saturday midnight.
Based on the CCTV footage, the two accused were apprehended, a senior officer said.
BJP's Noapara candidate Arjun Singh, in a post on social media, claimed that around 12.05 am, two armed miscreants arrived on a motorcycle at the residence of Kundan Singh, a BJP functionary and secretary of the Barrackpore organisational district, with an "intent to kill him".
According to the BJP leader, the accused are residents of Garulia and are known criminals.
Their names as offenders had been submitted to the Election Commission, he said.
The police officer did not specify whether the two arrested persons were the same individuals named by Arjun Singh.
According to the complaint, one round of firing took place outside Kundan Singh's house, triggering panic in the area.
The BJP candidate also questioned the role of the police, claiming that one of the accused had been detained by the police on the polling day but was later released in the evening.
The Noapara assembly seat went to the polls on April 29.
Several BJP leaders alleged that attempts were being made to create an atmosphere of fear ahead of the counting and weaken the organisation of the opposition parties.
The counting of votes will take place on May 4. Polling for the West Bengal assembly elections was held on April 23 and April 29.
The BJP urged the Election Commission to intervene immediately to ensure peaceful counting.
TMC candidate Somnath Shyam rubbished Arjun Singh’s allegation, claiming that the BJP nominee had orchestrated the firing incident to divert attention from imminent defeat.
“Arjun Singh knows all the gangsters in the Barrackpore belt. Everyone knows about his links with the underworld. Let the police investigate the incident,” Shyam said.
