New Delhi (Agency): The Directorate of Enforcement (ED), a government agency in India, has begun an investigation into People’s Group Bhopal and its linked organizations. The search took place on September 4 in several locations in Bhopal. This move is aimed at scrutinizing the financial activities of the group and its related businesses, including Sarvajanik Jankalyan Parmarthik Nyas, Peoples University, and Sarks Metal Pvt Ltd.
The investigation was triggered by a complaint from the Registrar of Companies in Gwalior. The complaint states that directors of certain entities under People’s Group misused their power. It alleges that these directors approved loans of more than 250 crore rupees at zero or very low-interest rates to businesses closely linked to them. This action is believed to have harmed shareholders and unfairly benefited the related organizations.
People involved in these entities, including Rohit Pandit and Mayank Vishnoi, are also under investigation. During the search, ED officials said they found important evidence, like documents showing the loan activities between these related businesses. In addition to the documents, a sum of 8 lakh rupees in cash was seized as part of the ongoing probe.
This investigation is one of ED’s efforts to closely watch financial transactions that might be involved in illegal money moves, such as money laundering. As the agency digs deeper, more details about these suspicious loan activities are expected to come out. This case shows that regulatory authorities are serious about making sure financial activities are clear and honest. It’s about keeping the money world safe and trusted.