In a PMLA case, the ED raids a businessman's property in Cuttack
In a PMLA case, the ED raids a businessman's property in Cuttack
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Cuttack: In connection with a Prevention of Money Laundering Act (PMLA) investigation, the Enforcement Directorate (ED) raided the properties of businessman Pawan Kumar Jajodia, who is based in Cuttack, Odisha.
According to sources, Jajodia was apprehended and taken into ED custody following the operations.
According to the media, searches were conducted on his residence, business, and godown at three locations in Cuttack on January 17.
"Various damning documents were seized during searches at three different sites. The ED said in a statement that it had recovered documents linked to landed properties and buildings worth Rs 23 crore.
Earlier, the State Vigilance Cell and Economic Offences Wing (EOW) of Odisha filed a FIR against Jajodia under IPC sections 420 and 120B, accusing him of causing losses to the exchequer of Rs 21.86 crore by utilising bogus bills, firms with no locations, and untraceable IDs.
On a complaint by Bank of Baroda, the Central Bureau of Investigation (CBI) has filed a FIR against Jajodia and seven others for causing losses to the exchequer of Rs 21 crore between 2011 and 2017.
