By Express News Service
BHUBANESWAR: The Enforcement Directorate (ED) on Thursday connected property value Rs 2.16 crore in reference to a case registered towards M/s Nabadiganta Capital Services Limited and its different group firms. The connected property embody Rs 16 lakh in 48 financial institution accounts maintained in IDBI and Indian Bank and two plots value Rs 2 crore at Narendrapur mouza in Puri district and Kaipadar mouza in Khurda district.
ED had launched an investigation into the matter beneath the Prevention of Money Laundering Act (PMLA) primarily based on the FIR and two cost sheets filed by the CBI. During the investigation, ED officers ascertained that Nabadiganta Capital had collected public deposits by issuing redeemable choice shares and non-convertible debentures (earnings debentures and wealth debentures) on the pretext of offering increased curiosity to the depositors.
The tainted agency’s officers had issued cash receipts and certificates with out having any authorisation from regulatory authorities like RBI and the Securities and Exchange Board of India. ED’s investigation additionally revealed that Nabadiganta’s administrators had misappropriated the invested quantity and diverted the funds as loans and advances to their different sister organisations – M/s Nabadiganta Projects restricted and M/s Nabadiganta Properties restricted.
The administrators of Nabadiganta are Anjan Kumar Baliarsingh, Pradeep Kumar Pattnaik and Kartikeya Parida. While, former BJD MP Ramachandra Hansdah, former MLAs of Keonjhar Sadar and Khariar – Subarna Naik and Hitesh Kumar Bagartti respectively had earlier reportedly served as administrators of the agency.
BHUBANESWAR: The Enforcement Directorate (ED) on Thursday connected property value Rs 2.16 crore in reference to a case registered towards M/s Nabadiganta Capital Services Limited and its different group firms. The connected property embody Rs 16 lakh in 48 financial institution accounts maintained in IDBI and Indian Bank and two plots value Rs 2 crore at Narendrapur mouza in Puri district and Kaipadar mouza in Khurda district.
ED had launched an investigation into the matter beneath the Prevention of Money Laundering Act (PMLA) primarily based on the FIR and two cost sheets filed by the CBI. During the investigation, ED officers ascertained that Nabadiganta Capital had collected public deposits by issuing redeemable choice shares and non-convertible debentures (earnings debentures and wealth debentures) on the pretext of offering increased curiosity to the depositors.
The tainted agency’s officers had issued cash receipts and certificates with out having any authorisation from regulatory authorities like RBI and the Securities and Exchange Board of India. ED’s investigation additionally revealed that Nabadiganta’s administrators had misappropriated the invested quantity and diverted the funds as loans and advances to their different sister organisations – M/s Nabadiganta Projects restricted and M/s Nabadiganta Properties restricted.
The administrators of Nabadiganta are Anjan Kumar Baliarsingh, Pradeep Kumar Pattnaik and Kartikeya Parida. While, former BJD MP Ramachandra Hansdah, former MLAs of Keonjhar Sadar and Khariar – Subarna Naik and Hitesh Kumar Bagartti respectively had earlier reportedly served as administrators of the agency.
