The Enforcement Directorate, Guwahati Zonal Office, has lodged a Prosecution Complaint before the Special Court (Prevention of Money Laundering Act), Kamrup (Metro), regarding an alleged bank fraud involving IDBI Bank and losses of Rs 8.62 crore. The complaint, filed against M/s Ottis Associates Private Limited and its Director, Suresh Kumar Kashliwal, cites violations of the Prevention of Money Laundering Act, 2002.
The probe by the Enforcement Directorate was initiated following a First Information Report filed by the Central Bureau of Investigation’s Anti-Corruption Branch in Guwahati under various sections of the Indian Penal Code and the Prevention of Corruption Act. The Central Bureau of Investigation has already submitted a chargesheet against Suresh Kumar Kashliwal, Nirmala Devi Kashliwal, and the company involved in the case.
Ottis Associates Private Limited, through its Director, allegedly obtained a cash credit facility of Rs 3 crore from IDBI Bank’s Guwahati branch in December 2009 through fraudulent means. The agency claims that properties, already sold to third parties, were falsely offered as collateral to the bank. Additionally, forged signatures of guarantors and mortgagors on bank documents were highlighted by the Enforcement Directorate.
According to the Enforcement Directorate, the accused, after securing the loan, swiftly transferred the funds into the company’s current account and channeled the money through vendor payments to mask tainted funds as legitimate assets. Despite settling the principal outstanding amount with the bank in 2024, the offence of money laundering persists under the Prevention of Money Laundering Act due to the alleged fraudulent activities.
