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The Directorate of Enforcement filed a prosecution complaint against Padam Singhee, Prem Singhee, and others for bank fraud involving shell companies and fictitious transactions. Investments not related to bank loans purposes were made.
The Enforcement Directorate (ED) said on Monday that it carried out searches at several locations in Delhi, Haryana, Chhattisgarh and Maharashtra in connection with a money laundering case involving SVOGL Oil and Gas Energy Ltd, and Max Tech ...
The Enforcement Directorate (ED) said on Monday that it carried out searches at several locations in Delhi, Haryana, Chhattisgarh and Maharashtra in connection with a money laundering case involving SVOGL Oil and Gas Energy Ltd, and Max Tech Oil and Gas Services Pvt Ltd, and found evidence relating to sham transactions, transactions with shell entities and investments in shares and immovable properties to the tune of Rs 90 crore. It also seized cash to the tune of Rs 78 lakh during the operations.
Valuables worth Rs 78 lakh were seized after the Enforcement Directorate conducted searches against some oil and gas sector companies as part of a money laundering probe linked to an alleged bank loan fraud of more than Rs 300 crore.