The company is probing Agrawal, his members of the family and others in reference to a cash laundering case linked to fees of alleged corruption and disproportionate property.
“The connected property embody plant and equipment, balances in financial institution accounts and immovable properties of Babulal Agarwal and his members of the family,” the ED stated in a press release.
The overall worth of the connected properties is Rs 27.86 crore, it stated.
Agrawal, a 1988-batch Indian Administrative Service (IAS) officer, was arrested by the company from his residence in state capital Raipur on November 9 and he’s in judicial custody until December 5.
He has served as a principal secretary within the Chhattisgarh authorities and has been arrested by the Central Bureau of Investigation (CBI) additionally prior to now on fees of corruption.
Agrawal was suspended by the state authorities after the CBI arrested him.
It was alleged that Agrawal needed to “settle” CBI probes towards him which have been registered in 2010 when he was the well being secretary within the state authorities.
When the ED arrested him earlier this month, it stated the motion was taken towards Agrawal for “laundering the proceeds generated out of legal offences by means of shell corporations and integrating the identical within the enterprise of his members of the family.”
The ED had stated its legal case filed towards Agrawal, his chartered accountant (CA) Sunil Agrawal and others was filed beneath the Prevention of Money Laundering Act (PMLA) after finding out a 2010 FIR of the Chhattisgarh anti-corruption bureau and the CBI.
Plant and equipment price Rs 26.16 crore, Rs 20.43 lakh saved in 291 financial institution accounts, a residential plot price Rs 39.52 lakh within the title of a agency, Xpress Mining Pvt Ltd, which is an entity owned and operated by members of the family of Babulal Agrawal, and Rs 15 lakh money recovered throughout I-T searches are among the many provisionally connected property.
The connected property additionally embody Rs 4.75 lakh saved within the checking account of an organization referred to as Capstone and a residential plot price Rs 10.25 lakh within the title of a agency recognized as Shri Ram Vihar (each partnership companies owned and operated by members of the family of the previous IAS officer), and Rs 39.81 lakh money and two kgs gold recovered by the CBI when it raided him.
The alleged corruption and disproportionate property case towards the previous bureaucrat first got here to mild after the Revenue Tax (I-T) division raided him in February, 2010.
The ED had stated it was discovered within the probe that Babulal Agrawal “performed an lively function for splitting the tender contracts associated to the World Bank aided Malaria management program and awarding them to some non-existing entities and thereby, inflicting loss to the exchequer and pecuniary profit to himself.”
The ED has additionally alleged that the previous bureaucrat, in connivance along with his CA Sunil Agrawal, his brother Ashok Agrawal and Pawan Agrawal, opened “greater than 400 financial institution accounts within the title of gullible villagers of Kharora and its close by villages and money to the tune of about Rs 46 crore was deposited.”
This money, the ED alleged, was “laundered” by means of shell or dummy corporations opened by Agrawal’s CA and different entities, which was in the end parked in an organization recognized as Prime Ispat Ltd, Raipur, as funding in shares.
The ED has earlier connected properties to the tune of Rs 36.09 crore which incorporates property of Prime Ispat Ltd, Raipur and the properties of the previous IAS.
Sunil Agrawal was additionally arrested by the ED on this case earlier.