The Enforcement Directorate (ED) has lodged a prosecution complaint against incarcerated Aam Aadmi Party (AAP) MLA from Punjab, Jaswant Singh Gajjan Majra, and six others for their involvement in a bank fraud case amounting to Rs 40.92 crore, as announced by the agency on Wednesday.
According to the ED, the prosecution complaint (PC) was filed by the agency’s Jalandhar Zonal Office against Jaswant, the former Director of Tara Corporation Limited and Tara Health Food Limited, along with six other accused individuals, including three companies. This pertains to the case involving Tara Corporation Limited and others, and was filed on January 5 before a special Prevention of Money Laundering (PMLA) Act court in Punjab’s Mohali. The court acknowledged the prosecution complaint on March 18.
Jaswant had previously been arrested by the ED on June 11 last year under the provisions of the PMLA, 2002, and remains in judicial custody of the special PMLA court in Mohali.
The ED’s investigation was initiated based on a First Information Report (FIR) registered by the Central Bureau of Investigation against Jaswant Singh, Tara Corporation Limited, and others.
The ED’s statement highlighted, “ED investigation revealed that the loan amount of Rs 40.92 crore availed by Tara Corporation Limited through criminal conspiracy and cheating had been diverted to various bogus firms from Tara Corporation Limited and thereafter integrated into Tara Health Food Limited (THFL) and Tara Sales Limited.”
Additionally, the federal agency noted that amounts totaling Rs 3.12 crore had been redirected to the personal accounts of Jaswant Singh, along with Rs 33.99 crore to THFL.
Prior to this, the ED had seized immovable property worth Rs. 35.10 crore that was utilized in the commission of the offense of money laundering.
