ED attaches property worth Rs 1,122 cr of Vadodara-based DPIL firm
New Delhi, April 24 : The Enforcement Directorate (ED) on Tuesday attached property worth Rs 1,122 crore belonging to Vadodara-based DPIL firm in connection with a Rs 2,654.40 crore bank fraud case.
The ED has also attached some belongings of promoter-directors of the Diamond Power Infrastructure Pvt. Ltd. -- Suresh Narain Bhatnagar, his two sons Amit Suresh Bhatnagar and Sumit Suresh Bhatnagar under Prevention of Money Laundering Act (PMLA).
The DPIL, which deals in cables and other electrical equipment, is alleged to have availed credit facilities fraudulantly since 2008, leaving behind a total outstanding debt of Rs 2,654.40 crore as of June 29, 2016 sanctioned by a consortium of banks and private organisation.
The Central Bureau of Investigation (CBI), which is also probing corruption charges in the case, had on April 18 arrested the three from Udaipur in Rajasthan nearly 23 days after it filed an FIR against them.
The ED is probing financial irregularities under money laundering case it has filed based on the CBI FIR.
On April 9, the ED had also conducted raids at the corporate office, factory premises and the residences of the directors of DPIL.
The CBI had on March 26, filed a case against DPIL and its directors for defrauding the consortium of 11 banks. The loan availed by them was declared a non-performing asset (NPA) in 2016-17.
The company managed to get term loans and credit facilities though it figured in the Reserve Bank of India's list of defaulters and the caution list of Export Credit Guarantee Corp of India (ECGCI) at the time of initial sanction of credit limits by the consortium.
Bank of India, which tops the list with Rs 670.51 crore of loans, is followed by Bank of Baroda (Rs 348.99 crore), ICICI (Rs 279.46 crore), State Bank of India (Rs 266.37 crore), Axis Bank (Rs 255.32 crore), Allahabad Bank (Rs 227.96), Dena Bank (Rs 177.19 crore), Corporation Bank (109.12 crore), Exim Bank of India (Rs 81.92 crore), IOB (Rs 71.59 crore) and IFCI (58.53 crore).
The CBI FIR said DPIL, through its founder and directors associated in the criminal conspiracy with unidentified bank officials of various banks, cheated those banks by way of misappropriating public funds through falsification of accounts, creation of false documents, forgery of records and knowingly used such records as genuine.
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BJP dreaming to win polls with money power: West Bengal BJP MLA after bypoll loss
Kolkata, Nov 23: As the ruling Trinamool Congress swept the by-elections in six assembly seats in West Bengal, Kurseong's party MLA Bishnu Prasad Sharma attacked the state leadership, saying the party dreams of winning polls with money power and that it sidelines legislators and gives "unnecessary importance and responsibilities" to MPs.
The TMC retained five of the six seats it had previously won during the 2021 polls, while wresting the key Madarihat seat from the saffron camp in north Bengal’s Alipurduar district.
In a Facebook post, Sharma alleged, "The BJP runs a membership drive in West Bengal over the phone from a Kolkata office, while party leaders turn a blind eye to factionalism within the party. The party sidelines MLAs and gives unnecessary importance and responsibilities to MPs. It dreams of winning elections relying on money power. Despite having no shortage of political issues in the state, it centers its politics solely around religion."
"The BJP accuses opponents of corruption while carrying Adani and Ambani on its shoulders. It tries to undermine the rights of the indigenous population by luring Bangladeshi Hindus with promises of CAA. It halts MGNREGA funds and indulges in such tactics, hoping to win elections in the state," he alleged.
On the other hand, the BJP MLA lauded TMC saying, that the ruling party in the state, armed with 26 different "pro-poor schemes" such as Kanyashree Prakalpa, Gitanjali Housing Scheme, Krishak Bandhu Scheme, Nijo Griha Nijo Bhumi, Rupashree Prakalpa, Shishu Sathi Scheme, and Student Credit Card, quietly works at the grassroots level.
"Now, you decide who will win the elections. I have never seen a culture of self-criticism within the BJP; otherwise, this outcome wouldn't have occurred," he added.
Since the 2021 assembly elections, the TMC has won every by-election, except the Sagardighi bypoll in March 2023, which was won by a Congress candidate who later switched to the TMC.
With this victory, TMC's tally in the 294-member state assembly rose to 216, further consolidating its position. The BJP's tally, on the other hand, dropped to 69, from 77 in 2021.
