Bhopal (Madhya Pradesh): Directorate of Enforcement (ED) has filed a prosecution complaint before the Special Court (PMLA), Indore, in a money laundering case involving Kishore Wadhwani, Nitesh Wadhwani, Poonam Wadhwani, and M/s Dabang Duniya Publications Pvt. Ltd., under the provisions of the Prevention of Money Laundering Act (PMLA). The Special Court took cognizance of the offence on January 12.
ED initiated investigation on the basis of an FIR registered by Tukoganj Police Station, Indore. The FIR specifically alleged Kishore Wadhwani, Nitesh Wadhwani and others for hatching a conspiracy to defraud the government with the malicious intent of converting illegally acquired money into lawful income.
A direct connection between Dabang Duniya Publications and clandestine cigarette trade conducted by M/s Elora Tobacco Co Ltd, a business entity found to be engaged in illegal cigarette distribution has been established by the CGST Department.
It was found that cash proceeds from the sale of these cigarettes were routed through M/s DDPPL s books by means of inflated circulation numbers and fictitious advertisements by the Wadhwanis and his accomplices.
The Proceeds of Crime (POC) in the matter have been identified to be more than Rs 11.66 crore. During the course of investigation, ED had also issued provisional attachment order amounting to Rs 11.33 crore.
