Detained PP owner had huge transaction with M/S Dutta Fin
Sumit Sharma. Updated: 3/18/2018 2:06:59 AM
Front Page
Money Laundering
JAMMU: A day after Enforcement Directorate (ED) team's raid at the residence of a petrol pump owner at Nanak Nagar area, his huge transactions with M/S Dutta Financiers India Limited has come of the fore.
A team of the enforcement agency had conducted raid at the residence of Charanjeet Singh in Nanak Nagar area and seized property related documents (both movable and immovable) including bank accounts for scrutiny before detaining him for further questioning.
During sustained scrutiny, the official sources said, the ED found his huge transaction with the M/S Dutta Financiers India Limited.
"The petrol pump owner bought and sold properties to the M/S Dutta Financiers India Limited, however, in his tax return file he showed merely the paltry amount, thus evading tax. ED team so far has recovered Rs 12 lakh FDR and other documents of his disproportionate amount from his house," a senior ED officer informed The News Now.
Official sources said that Charanjeet Singh who has a petrol pump at Canal Road came on ED's radar after going through the documents of the M/s Dutta Financiers India Ltd, owned by by one Harpal Singh Dutta.
The Enforcement Directorate sleuths in May 2017 had raided office and residence of Harpal Singh Dutta of M/s Dutta Financiers India Ltd at Jammu and Srinagar and seized documents of more than 15 properties.
The ED's investigations had begun following the complaints of cheating hundreds of investors of their hard earned money by the company. Many people in Jammu, Samba, Kathua, Poonch, Baramula and Srinagar had deposited an amount worth over Rs 28 crore with the company on the assurance of the operators to provide double amount after five years.
It was alleged that during April 2011, when some investors demanded interest amount and even the Principal amount, Harpal Singh and his staff started refusing on various pretexts.
In a few days, they also closed the company office and Harpal Singh fled to USA with depositors' money over Rs 28 crore.
During investigation under PMLA (Money Laundering Act), proceeds of crime worth Rs 32.34 lakh have already been attached by the ED which was found lying in the form of partners' capital in various small finance firms of Jammu. During today's raid, the ED team attached 15 properties of Harpal Singh Dutta and seized the documents.