ED attaches property of former BSP MLA Vinay Shankar Tiwari | Lucknow Information
LUCKNOW: The Directorate of Enforcement (ED) provisionally hooked up 27 immovable properties valued at Rs 72.08 crore belonging to former BSP MLA from Chillupar, Vinay Shankar Tiwari, on Friday.
The properties are linked to the cash laundering offense involving the accused promoters, administrators, and guarantors of M/s Gangotri Enterprises Ltd, as per the provisions of the Prevention of Cash Laundering Act (PMLA), 2002.
Vinay Shankar Tiwari, son of former politician Hari Shankar Tiwari, contested the 2022 Vidhan Sabha elections on a Samajwadi Occasion ticket from Chillupar however misplaced to Rajesh Tripathi of the BJP.
The hooked up immovable properties are situated in Lucknow, Maharajganj, and Gorakhpur districts of Uttar Pradesh. The ED initiated the investigation based mostly on an FIR filed by the CBI in New Delhi in opposition to M/s. Gangotri Enterprises Ltd. and its promoters, administrators, and guarantors in October 2020. The FIR named Vinay Shankar Tiwari, his spouse Reeta Tiwari, and Ajeet Pandey as Administrators.
The ED’s investigation uncovered that M/s Gangotri Enterprises Ltd, together with its promoters, administrators, and guarantors, fraudulently obtained credit score services of Rs 1,129.44 crore from a consortium of seven banks led by Financial institution of India. The funds weren’t repaid and have been diverted and misappropriated, inflicting a wrongful lack of Rs 754.24 Crore to the consortium of banks.
Sources revealed using faux paperwork to safe loans, and the corporate didn’t repay the loans, leading to a big monetary loss. The ED additionally highlighted the involvement of personal firms, Royal Empire Advertising and marketing Restricted and Gangotri Enterprises Restricted, each owned by Vinay Tiwari, engaged in building actions.
