Case of embezzlement of NHAI and HSIIDC funds
FinTech BizNews Service
Mumbai, January 6, 2024: Directorate of Enforcement (ED) has provisionally attached properties worth Rs. 1.11 Crore belonging to Naresh Kumar Sheokand, erstwhile District Revenue Officer (DRO) of Panchkula, Haryana, and others under the provisions of Prevention of Money-laundering Act (PMLA), 2002 in the case of embezzlement of NHAI and HSIIDC funds.
ED initiated investigation on the basis of FIR registered by State Vigilance Bureau, Haryana and CBI, New Delhi under various sections of IPC, 1860 and Prevention of Corruption Act, 1988. ED investigation revealed that Naresh Kumar Sheokand in connivance with other private persons had fraudulently transferred NHAI and HSIIDC funds meant for acquisition of land to the ineligible and non-bonafide persons causing wrongful loss to the exchequer to the tune of Rs. 37.89 Crore.
ED investigation further revealed that these funds (proceeds of crime) were further routed to different bank accounts, withdrawn in cash and invested in business as well as used for purchase of various properties. Accordingly, movable and immovable properties worth Rs. 1.11 Crore belonging to Naresh Kumar Sheokand and others, have been attached as per provisions of PMLA, 2002. Earlier properties worth Rs. 26.43 Crore belonging to Naresh Kumar Sheokand and others had been attached vide two PAOs. Total attachment in this case stands at Rs. 27.54 Crore till date. Further investigation is under progress.
