Mumbai, Jan 07:The special PMLA court has closed the money laundering case against M/s Tenet Exim Private Limited, a firm promoted by Manoj Kamboj. The money laundering case has been closed after the predicate offence registered by the CBI was closed based on the closure report last year.
CBI cheating case formed basis of probe
The firm and other connected persons were under probe for money laundering based on the cheating case registered by the CBI. The CBI had registered a case against Kamboj and a firm, namely Tenet Exim Pvt Limited, along with the firm’s other directors, namely Jitendra Kapoor, Naresh Kapoor, Siddhant Bagla, Irtesh Mishra and three other persons.
Allegations of fraudulent credit facility
It was claimed that Tenet Exim, through its directors, M/s KBJ Developers (corporate guarantor), M/s Rudraksha Motors Private Limited (corporate guarantor), Kamboj (CMD and guarantor), Jitendra Kapoor (director and guarantor), Naresh M. Kapoor (director), Siddhant R. Bagla (director), Hitesh Mishra (director), and M/s Lalit and Surendra Chartered Accountants, submitted false documents to avail a credit facility of Rs 50 crore from the bank.
The bank claimed that the accused persons dishonestly diverted the funds and caused wrongful loss to the bank to the tune of Rs 103.81 crore, which was settled at Rs 94.39 crore after a one-time settlement in February 2020.
Account declared fraud, bank approached CBI
The bank had approached a forensic auditor after Tenet Exim’s loan account turned a non-performing asset (NPA). The auditor declared the account of Tenet Exim as fraud on December 29, 2018. Following this, the bank filed a case in June 2020, complying with RBI guidelines.
CBI files closure report
However, after the probe, the CBI filed a closure report and said, “During the course of investigation, no evidence of misrepresentation, misstatement about the amount of unsecured loan infused/infusion of share capital of money found regarding number of shares in balance sheets of accused borrower company.”
The closure report was accepted by the special CBI magistrate court in September last year.
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ED plea accepted, ECIR closed
Hence, the court, on the plea of the ED, accepted to close the money laundering probe, observing that, “Since the closure report in respect of the scheduled offence has been accepted by the competent court and the case of scheduled offence has been disposed of and no material has been found attributing to the accused to the offence of money laundering, the continuation of the ECIR is not maintainable.”
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