Mumbai: The special court in a recent order while taking cognizance of the prosecution complaint filed by the Enforcement Directorate has said there is evidence to show that Rs 18.13 crore was directly and indirectly credited to the bank account of car designer Dilip Chhabria's company.
The court has issued summons to Chhabria and six other accused observing that, prima facie, there is abundant material to issue process against all the accused under the PMLA Act. The court has asked the accused to appear before it on February 26.
Last month the ED filed a prosecution complaint against Chhabria, his sister Kanchan, finance manager Nihal Bajaj, resolution professional Jitendrakumar Yadav, Dilip Chhabria Design Pvt Ltd (DCDPL), DC Motor Works Pvt Ltd and DC Autosoft Pvt Ltd for money laundering.
What Does The Court Order Say?
In its detailed order, the court said: After thorough investigation the ED, at initial stage, arrived at conclusion that total POC involved in this case is Rs18.13 crore. This much amount was directly / indirectly credited to the bank accounts of Dilip Chhabria Design Pvt Ltd (DCDPL). The prosecution complaint has demonstrated the trail of money with various details and flowcharts. These details coupled with copies of documents and statements prima facie indicate the deep-rooted involvement of the accused themselves and their companies.
The court said thecomplaint, copies of documents and statements indicate that Dilip Chabbria Design was under corporate insolvency resolution process (CIRP) based on the complaint of one of its investors, Creative Garments Pvt Ltd. In the said proceedings, the National Company Law Tribunal, Mumbai, had appointed Yadav as resolution professional on September 17, 2019.
"Forensic audit was conducted on books of accounts of DCDPL during CIRP proceedings, for the period April 2014 to September 2019. Forensic audit report October 20, 2020, was submitted by forensic auditor. On the basis thereof and with other materials it was found that DCDPL carried out transactions in such a manner to camouflage the siphoning off funds under the garb of business transactions."