MP News: Directorate Of Enforcement Files Prosecution Complaint Against Ranjeet Automobiles

Bhopal (Madhya Pradesh): Directorate of Enforcement (ED), Bhopal has filed a Prosecution Complaint (PC) against M/s Ranjeet Automobiles Pvt Ltd, M/s Ranjeet Motors Pvt Ltd and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, before the Special Court (PMLA), Bhopal, said officials on Monday. The Court has taken cognizance of the offence of money laundering on September 26, 2025.

Earlier on September 16, ED had provisionally attached property in Bhopal valued at Rs 27.30 crore. The ED initiated investigation on the basis of an FIR registered by CBI, STB, Bhopal under various sections of IPC, 1860.

Subsequently, a charge-sheet was filed by CBI against several people. The investigation revealed that the accused persons defrauded Bank of Baroda to the tune of Rs 34.36 crore by availing a cash credit limit.

Investigation revealed that initially the accused persons availed a cash credit limit of Rs 7.50 crore in 2010 using mala fide means. The said limit was gradually increased to Rs 42 crore in 2015.

ED investigation further revealed that the company was to utilise funds for business purposes but it diverted to its sister concerns. The said diverted funds were then utilised for acquisition of the attached property and repayment of loan availed for development of the attached property.