The Enforcement Directorate attached a school and a stone crusher, both worth more than Rs 31 crore, to Indian Forest Service (IFoS) officer Kishan Chand and his family as part of a money laundering probe against him in Uttarakhand.
The ED has also attached land and buildings situated at Haridwar and Roorkee under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The ED initiated an investigation based on an FIR registered by the Vigilance Establishment, Dehradun, with respect to the Disproportionate Asset (DA) case in the matter of Kishan Chand (the then DFO) and others.
The ED investigation revealed that the properties attached are proceeds of crime, and a huge amount of cash and cheques in the name of third parties had been deposited in various accounts. The amount so deposited was used to purchase the properties to project these immovable properties as untainted.
During the check period from January 1, 2010, to December 31, 2017, the accused, Kishan Chand, spent an amount to the tune of Rs 41.9 crore to acquire or purchase movable and immovable properties as well as on other works.
However, during this period, Kishan Chand’s income was Rs 9.8 crore. Thus, Kishan Chand had disproportionate assets (DA) to the tune of Rs 32.1 crore, which are the proceeds of crime. Further investigation is under way.
(with inputs from ANI)