The Enforcement Directorate, Ahmedabad, Friday said it attached properties worth Rs 14.50 crore of city-based ABC Cotspin Pvt Ltd in connection with a bank fraud worth Rs 804 crore. The attached assets include an immovable property at Regent Chambers Nariman Point in Mumbai and the other at Nikumbh Complex in Ahmedabad. ED officials said that the “properties have been attached against the amounts remitted outside India”.
The agency had lodged the case against firm’s director Ashish S Jobanputra, wife Priti, among others, under the prevention of money laundering act among other charges based on the FIR by the CBI in 2016. Ashish has been alleged as a mastermind of the fraud. He has left the country with his family and settled in the US. The ED has said that the “enquiries against Jobanputra are contemplated under Fugitive Economic Offenders Ordinance, 2018.”
The CBI has alleged that the ABC Cotspin Pvt Ltd and its directors entered into a “criminal conspiracy” with the officials of Bank of Baroda, Ahmedabad and SBI, Gondal Rajkot and defrauded them. ED officials said the investigation has revealed that the firm availed bill discounting facilities from two banks against the Letter of Credit of prime banks. In a release, ED has said, “During 2014-15, Ashish Jobanputra, without making any genuine export, got prepared and signed the export documents… to SBI for discounting the bills… and presented them to SBI, Gondal and Bank of Baroda, Ahmedabad… The bank officials, without scrutinising the export bills, shipping bills issued by customs, granted discounts.