The Enforcement Directorate (ED) has intensified its crackdown on financial irregularities with a recent raid across Delhi, Mumbai, and Goa yielding significant findings in the case of Dlehman Rea-IT Trade Pvt Ltd.
This private limited company, ostensibly involved in legal, auditing, and tax consultancy activities, came under ED scrutiny due to suspected fraudulent transactions. The agency seized cash totaling Rs 80 lakh, along with foreign currency equivalent to Rs 2 lakh, during search operations conducted in nine locations.
The raid, conducted under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, targeted the residences of Ajay Harinath Singh and his associates.
These searches revealed not only a substantial amount of cash but also various digital devices and incriminating documents. The ED's Delhi Zonal office spearheaded these efforts, unveiling a complex web of financial manipulation allegedly orchestrated by Dlehman Rea-IT Trade Pvt Ltd.
At the heart of the investigation lies an FIR registered by the Delhi Police under Section 420 of the IPC, 1860. The FIR alleges that Dlehman Rea-IT Trade Pvt Ltd and other entities facilitated the fraudulent transfer of Rs 18 crore from the bank account of Vestige Marketing Private Limited (VMPL) to their own accounts in 2020.
The ED's subsequent probe uncovered a sophisticated scheme wherein the funds were purportedly moved through falsified investment agreements and dummy directors.
According to ED findings, Dlehman Rea-IT Trade Pvt Ltd executed the fraudulent transfer by presenting fictitious investment agreements and a fake authorised representative. The agency alleges that this manoeuvre enabled the company to move the funds from VMPL's account to its own.
The illicitly obtained funds were then purportedly dispersed across multiple bank accounts belonging to the Darwin Group of Companies, owned by Ajay Harinath Singh.
Further investigation revealed that the directors of Dlehman Rea-IT Trade Pvt Ltd, Hariprasad Akaloo Paswan and Ramesh Yadav Kumar, were mere figureheads, while Ajay Harinath Singh exerted substantial control over the operation.
The funds were allegedly laundered through these dummy directors and eventually funnelled into personal accounts associated with Singh and his close associates.
The raid underscores the ED's commitment to combat financial crimes and ensure adherence to regulatory standards. By seizing significant amounts of cash and uncovering a sophisticated money laundering operation, the agency has sent a clear message that illicit financial activities will not go unchecked.
As the investigation unfolds, further details are expected to emerge, shedding light on the intricate mechanisms employed by entities like Dlehman Rea-IT Trade Pvt Ltd to circumvent the law and exploit regulatory loopholes.
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