New Delhi, Oct 7 || In a significant move to restore the Proceeds of Crime (POC) to rightful claimants, the Enforcement Directorate (ED) Delhi zonal office has successfully restituted property valued at Rs.1.34 crore to the rightful claimant, i.e. IDBI bank in the case of Kamal Kalra being investigated by ED, the agency said on Tuesday.
According to the ED, it initiated the investigation on the basis of an FIR filed by Bank of Baroda against 59 current account holders of firms/companies and other unknown bank officials for commission of offence under various Sections of IPC,1860 and Prevention of Corruption Act, 1988.
“ED investigation revealed that huge amounts were remitted to various companies based in Hong Kong, SAR, China and Dubai, in connivance with several hawala operators and businessmen in the guise of advance import remittances and remittances towards purported software imports,” the agency said.
However, there were no subsequent imports, and the accused submitted fake documents to the bank.