New Delhi, (Aryavarth) The Enforcement Directorate (ED) on Saturday said that it has filed a charge sheet against Kudos Chemie Ltd., Kudos Holdings Pvt Ltd and its directors and Jitendra Singh and Gurmeet Sodhi in connection with a money laundering probe.
The ED filed the charge sheet at the Special PMLA Court in Chandigarh under the Prevention of Money Laundering Act on February 18.
The ED registered a case on the basis of CBI FIR for bank fraud with the consortium of banks led by Punjab National Bank.
An ED official said that probe revealed that Singh and Sodhi, both directors of Kudos Chemie Ltd. prepared forged export bills and got them discounted with the banks fraudulently.
He said that they also diverted loan funds to the related concern namely Kudos Holdings Pvt. Ltd. being a shell company and through round-tripping showed the diverted funds as their own capital and took more loans from the banks.
The official said that directors of the company also used company loan funds for buying properties in individual names.
The ED had earlier attached immovable properties worth Rs 343 crore.