The Enforcement Directorate in Jaipur has provisionally attached immovable properties valued at approximately Rs 2.67 crore under the Prevention of Money Laundering Act. This action is related to a significant fraud on the Indian Railways involving M/s Vinayak Logistics India Pvt Ltd, M/s Vinayak Logistics, and their Director Pravesh Kabra.
Following an investigation based on FIRs filed by the CBI in Jaipur, it was discovered that the accused entities deliberately misrepresented high-freight items as low-freight goods to evade railway freight charges and GST. This manipulation caused substantial losses to the Indian Railways and the public exchequer.
The Proceeds of Crime from this fraudulent activity amount to Rs 16.15 crore, which were channeled into personal bank accounts to conceal the illegal gains. The laundered funds were used to purchase high-value properties and cover personal and business expenses.
The properties provisionally attached include commercial buildings in Gurugram, Haryana, with a total market value of Rs 2.67 crore. Investigations are ongoing to identify additional assets and individuals involved in the money laundering scheme.
