BHUBANESWAR: The Enforcement Directorate (ED) on Thursday attached assets worth Rs 2.16 crore in connection with a case registered against M/s Nabadiganta Capital Services Limited and its other group companies. The attached assets include Rs 16 lakh in 48 bank accounts maintained in IDBI and Indian Bank and two plots worth Rs 2 crore at Narendrapur mouza in Puri district and Kaipadar mouza in Khurda district.
ED had launched an investigation into the matter under the Prevention of Money Laundering Act (PMLA) based on the FIR and two charge sheets filed by the CBI. During the investigation, ED officers ascertained that Nabadiganta Capital had collected public deposits by issuing redeemable preference shares and non-convertible debentures (income debentures and wealth debentures) on the pretext of providing higher interest to the depositors.
The tainted firm’s officials had issued money receipts and certificates without having any authorisation from regulatory authorities like RBI and the Securities and Exchange Board of India. ED’s investigation also revealed that Nabadiganta’s directors had misappropriated the invested amount and diverted the funds as loans and advances to their other sister organisations - M/s Nabadiganta Projects limited and M/s Nabadiganta Properties limited.
The directors of Nabadiganta are Anjan Kumar Baliarsingh, Pradeep Kumar Pattnaik and Kartikeya Parida. While, former BJD MP Ramachandra Hansdah, former MLAs of Keonjhar Sadar and Khariar - Subarna Naik and Hitesh Kumar Bagartti respectively had earlier reportedly served as directors of the firm.