AI Drafter 
TaxTMI 
TaxTMI 
2025 (4) TMI 1792
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.... 11.57 Lakhs Shri Ram Binod Prasad Sinha 2. Flat No. 1804, Tower-B, Amber Heights, 34- Pavilion, Sector-34, NOIDA, Dist. Gautam Budh Nagar, U.P. 17.02.2018 55.38 Lakh Shri Ram Binod Prasad Sinha 3. Fixed Deposit worth Rs. 23 Lakhs at Bank of India, Khunti Branch 43.12 Lakhs Shri Ram Binod Prasad Sinha 4. Seven Commercial vehicles as mentioned supra 2008-10 68.93 Lakhs Shri Ram Binod Prasad Sinha 2. As per the facts of the case, thirteen FIRs were registered by Jharkhand Police, vide FIR dated 03.10.2010 FIR No. 22/10 dated 15.09.2010 was registered by Jharkhand Police at Arki Police Station, Khunti, Jharkhand. Further, Vigilance Bureau vide FIR No. 06/11 and 07/11 dated 23.03.2011 at Nigrani Thana, Ranchi. The case involves offences punishable under the provisions of Section 406, 409, 420, 423, 424, 464, 465 and 120-B of Indian Penal Code, 1860 and Sections 11, 13(2) and 13(1)(e) of Prevention of Money Laundering Act, 1988 which are scheduled offences under PMLA. Consequent upon completion of investigation by the respective agencies, chargesheets were filed in all the aforesaid sixteen FIRs by the concerned investigating ag....
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....ezzlement of Rs. 18 Crores was alleged. Further on the basis of the inspection report, 16 FIRs were filed at Khunti Police and Arki Police Station. The agencies also filed chargesheets in all these sixteen FIRs involving an amount of Rs. 18,00,76,144/- representing the total embezzled amount. Shri Ram Binod Prasad Sinha was not getting salary from the Govt. of Jharkhand, hence all the properties/investments made by Shri Ram Binod Prasad Sinha either in his name or in the name of his family members during the check period are construed to be proceeds of crime generated from the embezzlement of Govt. funds at Khunti, in his capacity as Junior Engineer in Jila Parishad, Khunti. During the course of investigation, statement of Shri Ram Binod Prasad Sinha and his other associates were recorded u/s. 50 of PMLA, 2002. On the basis of above incriminating material on record collected during investigation, ED passed the PAO No. 02/2018 dated 31.03.2018 and thereafter filed the Original Complaint No. 963/2018 before the Adjudicating Authority for confirmation of the said properties. The Adjudicating Authority being satisfied with the allegations made in the OC coupled with the relied....
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....e pressure of ED Officers, Kameshwar Yadav has given a false story. Also, in the statement given by M/s Chandra Construction under PMLA, he denied any loan and he stated that he had given payment against building material supplied by the appellant. In this regard, it is pertinent to mention that Chief Engineer, Office of RDD, Ranchi had given notice vide Letter No. 1126 dated 28.06.2010 to M/s Chandra Construction and warned them regarding cancellation of contract on account of slow and negligible progress of work which shows that there is no chance of payment by M/s Chandra Construction against the building material. On perusal of the bank statement of M/s Chandra, it is apparent that M/s Chandra had paid directly the supplier of building material in next coming year when he started working. Ld. Counsel for the appellant pointed out that there is no embezzlement of government fund by the appellant and there is no involvement of any proceeds of crime in the properties mentioned at para no. 1 above. He submitted that the entire investment has been done by loan from Kameshwar Yadav Proprietor of M/s Chandra Construction who is absconding on account of warrant of arrest being is....
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....lationship, or any business relationship with M/s Chandra Construction and that they just provided him the loan. Further in reply to a question in his statement dated 22.02.2018 he had stated that M/s Chandra Construction gave Rs. 1.40 Crore to him as loan. Shri Ram Binod Prasad Sinha has repeatedly changed his statement regarding amount of loan and its nature of repayment of loan from M/s Chandra Construction. He pointed out that Shri Kameshwar Prasad Yadav is a person of limited means and has also showed his financial inability to give such huge amount as loan, and stated that he never had such finance available to give as loan. Shri Ram Binod Prasad Sinha also failed to give any evidence of returning back the stated loan. Furthermore, Shri Ram Binod Prasad Sinha was not getting salary from the Govt. of Jharkhand, and he has not shown any other source of income in his Income Tax Return, hence all the properties/investments made by Shri Ram Binod either in his name or in the name of his family members during the check period are construed to be proceed of crime generated from the embezzlement of Govt. funds at Khunti, in the capacity of a Junior Engineer in Jila Parishad, Khunt....