The ED on Tuesday has filed a Prosecution Complaint before the Special Court in Mohali against Charanjit Singh Bajaj and 4 others, including the company Pure Milk Products Private Limited, in a money laundering case linked to a bank fraud of ₹62.13 crore.
The Special Court acknowledged the complaint on October 30, 2024.
The ED’s investigation began following an FIR registered by the Central Bureau of Investigation, EOU-IV, New Delhi, under various sections of the Indian Penal Code and the Prevention of Corruption Act.
Officials revealed that the loan provided to Bajaj and his company was not used for its intended purpose.
Instead, Charanjit Singh Bajaj, the Managing Director of PMPPL, allegedly diverted the proceeds of crime through multiple shell companies. Reports indicate that ₹37.82 crore of the proceeds were moved to related entities through fraudulent means.
Earlier, the ED conducted searches at 11 locations, resulting in the recovery of ₹1.14 crore in cash and gold. Additionally, the agency had attached immovable properties valued at ₹24.94 crore in connection with the case.
Further details are awaited as the investigation continues.
