New Delhi, Feb 5 (UNI) The Enforcement Directorate (ED), Jaipur Zonal Office, stated on Thursday that it has attached immovable property worth Rs 13.48 crore in a case involving deliberate, systematic, and large-scale fraud against Indian Railways by Vinayak Logistics India Pvt. Ltd., Vinayak Logistics, and their Proprietor/Director, Pravesh Kabra.
With this provisional attachment, the total value of properties attached in the case now stands at approximately Rs. 16.15 crore, representing the entire proceeds of crime quantified during the investigation.
The ED has effectively secured 100% of these proceeds, ensuring that no portion of the illicit gains remains available for concealment, or further laundering by the accused.
The provisional attachment follows an extensive investigation under the Prevention of Money Laundering Act (PMLA), initiated based on three FIRs registered by the CBI, SPE, Jaipur, in the Nathdwara, Mandalgarh, and Bharatpur cases, and the subsequent filing of chargesheets.
The investigation revealed a well-orchestrated criminal conspiracy wherein the accused entities, under the direct control of Pravesh Kabra, willfully misdeclared high-freight commodities such as marble powder, waste marble powder, and dolomite as low-freight commodities like alum powder and putty.
This was done with the sole intent of unlawfully reducing railway freight liability.
The ED said its investigation established that through repeated fraudulent manipulation of railway booking records during 2021-2022, the accused entities illegally transported more than 120 rakes of goods by using falsified forwarding notes, manipulated e-forwarding notes, and incorrect HSN codes.
Scientific analysis by the Geological Survey of India confirmed that the consignments declared as low-freight commodities were, in fact, marble and dolomite powder. This “deliberate deception” resulted in wrongful evasion of railway freight charges and GST, generating proceeds of crime amounting to Rs 16.15 crore and causing a corresponding loss to Indian Railways and the public exchequer, ED said.
Earlier, the ED had provisionally attached immovable properties valued at Rs 2.67 crore on January 6, representing a part of the proceeds of crime used to acquire commercial properties in Gurugram, Haryana.
However, further financial investigation revealed that the remaining proceeds of crime, amounting to Rs. 13.48 crore, remained under the control of Pravesh Kabra. These funds had been systematically siphoned, layered, and consumed through his business operations and personal expenditure, making their direct identification and tracing impracticable, the ED said.
Accordingly, to secure the remaining proceeds of crime and prevent frustration of confiscation proceedings, the ED has provisionally attached an immovable residential property in Gurugram, Haryana. This property, of equivalent value to the extent of Rs 13.48 crore, was attached in accordance with the provisions of the PMLA, 2002.
Further investigation is ongoing.
