Last Updated: January 29, 2023, 23:55 IST
The company suspects that the previous chairman of the financial institution ”erased” chats and cloud knowledge from the 2 cellphones allegedly recovered from him.
(Photo for illustration)
The case pertains to an ED cash laundering probe, linked to alleged irregularities of about Rs 494 crore, towards the previous officer-bearers of Seva Vikas Cooperative financial institution together with its chairman Amar Mulchandani
The Maharashtra Police has arrested a former chairman of a state-based cooperative financial institution and his 5 relations after an ED criticism they have been allegedly obstructing its raids and destroying proof, officers stated Sunday.
The case pertains to a an Enforcement Directorate cash laundering investigation, linked to alleged irregularities of about Rs 494 crore, towards the previous officer-bearers of the Pune-based Seva Vikas Cooperative financial institution together with its chairman Amar Mulchandani.
The company, in accordance with official sources, raided the premises of Mulchandani within the Pimpri-Chinchwad space (close to Pune), early morning on January 27, however its crew couldn’t get into his home as ”nobody opened the home.” The ED subsequently referred to as in a locksmith who breached the lock, following which ED officers discovered at the least 5 individuals inside.
Official sources stated the occupants of the home knowledgeable ED sleuths that Mulchandani was not there, and their statements have been recorded underneath the sections of the Prevention of Money Laundering Act (PMLA).
ED officers, after about six hours of search, discovered a servant room contained in the premises which was locked and when its keys have been sought, the occupants expressed their lack of ability to supply them.
The locksmith, as per the sources, was once more summoned and after the door lock was damaged, the company discovered Mulchandani ”hiding” inside this room.
The ED filed a police criticism towards all of the six individuals alleging non-cooperation in the course of the searches and hiding/destruction of proof following which all of them, together with two girls, have been arrested by the native police, they stated.
The company suspects that the previous chairman of the financial institution ”erased” chats and cloud knowledge from the 2 cellphones allegedly recovered from him.
About Rs 2.73 crore price of jewelry and diamonds and Rs 40 lakh in money have been recovered from the premises, the sources stated.
The RBI had cancelled the licence of the financial institution in October, 2022.
The financial institution doesn’t have sufficient capital and incomes prospects, the RBI had stated.
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