The Enforcement Directorate (ED) has submitted a charge sheet to the Special Court under the Prevention of Money Laundering Act (PMLA) regarding the DAV Postgraduate (PG) College scholarship scam in Dehradun. The charge sheet, filed against Piyush Chandra Bhatnagar and Ranjana Rawat, accuses them of money laundering offenses. The case originated from a police FIR highlighting the misappropriation of scholarship funds intended for marginalized students.
The ED’s investigation revealed an unauthorized bank account at Dena Bank where scholarship funds, along with transfers from other college accounts and interest, were deposited. Between 2009 and 2014, approximately Rs 2.27 crore was credited to this account. It was found that the college staff opened an unauthorized account at the GMS Road Branch of Dena Bank, deviating from the Managing Committee’s approval for an account at the Laxmi Road Branch.
Piyush Chandra Bhatnagar, who held positions as Scholarship In-charge and Office Superintendent, orchestrated the operation by manipulating the account opening process and diverting funds systematically. A significant portion of the funds was withdrawn in cash and siphoned through cheques issued to various individuals, while a substantial amount was transferred to Bhatnagar’s personal bank accounts. Ranjana Rawat, as Scholarship Coordinator, allegedly facilitated the scam by signing blank cheques used for unauthorized transactions.
The ED provisionally attached movable assets worth Rs 7.86 lakh, including insurance policies, bank balances, and a Honda Activa scooter, as part of the investigation. Both accused individuals have been charged under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002, for activities related to the generation, concealment, possession, and utilization of proceeds of crime. The case has underscored the importance of stringent oversight of scholarship funds in educational institutions to safeguard benefits for disadvantaged students.
