NEW DELHI: The Enforcement Directorate (ED) on Friday attached properties worth Rs 1.08 crore of Shyam Sunder Bajaj, proprietor of Kolkata’s M/s Shivam Agency under the Prevention of Money Laundering Act (PMLA) in a post demonetisation case relating to Bank of India's Gaya branch in Bihar.
During investigation, it was found that officials of the bank in involvement with some businessmen misused the bank account of certain innocent persons to deposit huge amount of demonetised currency in their bank accounts.
The deposited money was layered through various bank accounts in the guise of fake business transaction.
The attached properties include an office premises at Strand road in Kolkata and one plot at 24 Parganas and deposits in four bank accounts. This is the second attachment in the case.
Earlier, the ED had attached properties worth Rs. 1.53 crores in September last year. Thus the total value of attachment in this case is now Rs.2.61 crores.
Further investigation is underway.