2024 (10) TMI 388

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....al records, bank accounts etc., seized from the premises of various persons including the present appellant, during the search conducted on 07.04.2017. 2. In the present appeal, Ld. Counsel for appellant submitted that he is the proprietor of M/s Vision Procon, Director of Dream Heights Homes Pvt Ltd. and also owning a HUF in the name of Dinesh Kumar & Sons (HUF) and that a search was conducted by the respondent ED on premises of the present appellant and the following seizure was made: Sr. No. Premises searched Outcome of the search 1 Business-cum-residential premises of Shri Dinesh Kumar s/o Mr. Lahori Lal, Proprietor of M/s Vision Procon situated at 3086/1, Sector-47D, Chandigarh - 160047 Certain documents viz., Annexure- 1, (Page....

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.... submitted that certain bank accounts were identified belonging to the accused and their associate companies as a result of information and also as a result of searches conducted by the respondent ED. The bank officials of Indian Overseas Bank main branch Chandigarh fraudulently intercepted messages and issued letter of conformity/letter of undertaking to the foreign banks for the Buyers Credit extended by them. This was done in collusion with the accused companies and their directors /proprietors and have caused loss to the bank to the tune of USD 47.86 million equivalent to approximately Indian Rs. 321 crores. He pointed out the details of fraudulent SWIFT messages through which liability was created against the Indian Overseas Bankqua th....