The Enforcement Directorate Thursday, September 8, carried out simultaneous raids at multiple properties belonging to Punjab Aam Aadmi Party (AAP) MLA Jaswant Singh Gajjan Majra and his associates. The raid was carried out in connection with the Rs 40 crore bank scam.
According to reports, the ED officials, accompanied by paramilitary forces, simultaneously started searches at different locations, including a hotel at Dhuri, a school and the residence of the Amargarh MLA in Gajjan Majra and Lasoi villages.
#Punjab ED raid the business premises of @AAPPunjab MLA Jaswant Singh Gajjan Majra from Amargarh. information received, the ED teams reached the local Tara Convent School, Tara Feed and Gajjanmajra village today. The investigation is continuing till afternoon.@GajjanMajra pic.twitter.com/SguxZQM7QZ
— Parmeet Singh Bidowali (@ParmeetBidowali) September 8, 2022
In the raid, the central agency seized Rs 32 lakh in cash, some mobile phones, hard drives and evidence related to shell companies that were used for siphoning off funds.
“Incriminating pieces of evidence were seized related to bogus firms through which turnover of Tara Corporation Limited (of which Jaswant Singh is one of the directors) was inflated and loan funds were diverted/siphoned off by the accused. Further, mobile phones, hard drives and Indian currency worth Rs 32 lakh were also seized from the searched premises,” the ED said in a statement.
CBI raids Aam Aadmi Party MLA Jaswant Singh, recovers 94 signed blank cheques
Prior to this, a CBI team on May 7, 2022, carried out raids at the properties linked to the ruling Aam Aadmi Party (AAP) MLA. During the searches, the CBI team recovered 94 blank cheques signed by different signatories and several Aadhar cards.
The searches were conducted in connection with the case against the Amargarh MLA over a complaint lodged by Bank of India, Ludhiana branch.
The case was registered against Jaswant Singh, Tara Corporation Ltd (renamed as Malaudh Agro Ltd.) based at Gaunspura, Tehsil- Malerkotla, and others. The AAP MLA was a director and guarantor in the accused company. Jaswant Singh’s brothers Balwant Singh and Kulwant Singh, and nephew Tejinder Singh are also accused in the case.
Explaining the nature of the fraud, CBI spokesperson RC Joshi said, “The borrower firm was sanctioned loans at 4 intervals from 2011-2014 by the Bank. It was further alleged that the firm through its Directors had concealed hypothecated stock and diverted book debts with malafide and dishonest intention so that the same was not made available to the creditor Bank for inspection and for effecting recovery as a secured creditor. An alleged loss of Rs. 40.92 Crore(approx) was caused to the Bank.”
