ED Seizes Properties and Jewelry in Prayagraj and Bhopal
Properties Attached in Prayagraj
The Directorate of Enforcement (ED) has attached properties worth Rs 2.5 crore in Prayagraj, Uttar Pradesh. These properties, registered under the name of Yogesh Tiwari, include a house in Jhunsi and a residential plot in Phoolpur. The action was taken under the Prevention of Money Laundering Act (PMLA), 2002.
Jewelry and Cash Seized in Bhopal
In a separate case, ED seized diamond and gold jewelry worth Rs 85 lakh and cash amounting to Rs 25 lakh in Bhopal. The searches were related to a bank fraud case involving Excel Vehicle Pvt Ltd and its directors. The raids, conducted on November 6, also led to the seizure of incriminating documents and mobile phones.
Details of the Operations
The ED’s Bhopal Zonal Office carried out the search operations under the PMLA, 2002. The agency is investigating the diversion of funds obtained from the Bank of India.
Doubts Revealed
ED -: ED stands for the Directorate of Enforcement. It is a government agency in India that investigates financial crimes like money laundering.
Money Laundering -: Money laundering is when people try to hide where their money came from, especially if it was earned illegally, to make it look like it came from a legal source.
Prayagraj -: Prayagraj is a city in the Indian state of Uttar Pradesh. It is known for the Kumbh Mela, a major Hindu festival.
Bhopal -: Bhopal is the capital city of the Indian state of Madhya Pradesh. It is known for its lakes and historical sites.
Prevention of Money Laundering Act (PMLA), 2002 -: The Prevention of Money Laundering Act is a law in India that was made in 2002 to stop money laundering and to punish those who do it.
Yogesh Tiwari -: Yogesh Tiwari is the name of a person whose properties were seized by the ED in Prayagraj as part of their investigation.
Excel Vehicle Pvt Ltd -: Excel Vehicle Pvt Ltd is a company involved in a bank fraud case, which means they are suspected of cheating a bank out of money.
Incriminating documents -: Incriminating documents are papers or files that show someone might have done something illegal.