ED initiated investigation on the basis of FIR registered/Charge-sheet filed by CBI against the Sr Branch Manager of PNB i.e. Mark Pius Karari and Manoj Parmar
FinTech BizNews Service
Mumbai, 7 December, 2024: Directorate of Enforcement (ED), Bhopal Zonal Office has conducted search operations on 05.12.2024 at 04 premises situated in Sehore and Indore districts of Madhya Pradesh in the matter of Manoj Parmar and others under the provisions of Prevention of Money Laundering Act (PMLA), 2002, as per the press release issued by the ED today.
The search covered the residential premises of the key persons who were the beneficiary of the Proceeds of Crime or have actively aided/ abetted such persons in the bank fraud. During search various incriminating documents and details of immovable/ movable properties were found and seized. During the search statements of certain persons were recorded and bank balance of Rs. 3.5 Lakh has been freezed. Details of 04 immovable properties of key person were also found during the searches.
ED initiated investigation on the basis of FIR registered/Charge-sheet filed by CBI, Bhopal under various sections of IPC, 1860 against the Sr Branch Manager of PNB i.e. Mark Pius Karari and Manoj Parmar. Scrutiny of FIR and chargesheet revealed that funds amounting to Rs. 6 Crore (approx.) were availed as loan under the scheme of Pradhan Mantri Employment Generation Program (PMEGP) and Chief Minister Yuva Udhami Yojna (CMYUY) schemes, but were diverted and mis-utilized. During the investigation, bank account analysis revealed that the bank funds were diverted to various proprietorship concerns/ firms and were subsequently withdrawn in cash for the purpose of investment in properties. Further investigation is under progress.
