The Aryavarth Express
Agency(Odisha): The Directorate of Enforcement (ED) in Bhubaneswar has carried out extensive search operations under the Prevention of Money Laundering Act (PMLA), 2002, across 12 locations in Bhubaneswar, Barbil, Rourkela, and Kolkata. These raids targeted the premises of M/s Deepak Steel & Power Ltd, M/s Snehapusph Marketing (P) Ltd, their associated entities, their directors, and their chartered accountant. The objective was to trace and reveal the proceeds of crime linked to an illicit iron ore mining scam situated in Joda, District-Keonjhar, Odisha.
These actions by the ED were initiated based on an FIR and subsequent chargesheets filed by the Vigilance Department of Odisha Police under various sections of the IPC, 1860, and the Prevention of Corruption Act, 1988 against M/s Deepak Steel and Power Ltd., M/s Snehapusph Marketing Pvt. Ltd, Deepak Gupta, Hari Charan Gupta, among others.
Investigations conducted by the ED disclosed that the proceeds of crime derived from illegal mining activities were funneled through several shell companies located in Kolkata and Barbil. These entities featured dummy directors to obscure the origins of the ill-gotten gains.
The search operations led to the seizure of Indian currency amounting to Rs 30 Lakh, 2 Kg of gold bullion valued at Rs 1.24 Crore, a 2020 Volvo XC40 car, alongside various property documents, digital devices, and incriminating paperwork. Additionally, the ED issued freezing orders for two banks, effectively freezing a sum of Rs 1.23 Crore across six bank accounts linked to the directors of the implicated companies.
In a prior move, a Provisional Attachment Order (PAO) was executed, attaching movable and immovable assets worth approximately Rs 379 Crore related to the case. A Prosecution Complaint has been filed in the PMLA Court, which has recognized the seriousness of the allegations.
The ED continues its investigation to further uncover the extent of this illegal mining operation and to hold those responsible accountable for their actions.
