The Enforcement Directorate (ED) is conducting raids on SP leader Vinay Shankar Tiwari’s offices in Lucknow, Gorakhpur and Mumbai. This action is being taken at the offices of Gangotri Enterprises Private Limited and its associated companies associated with Vinay Shankar Tiwari.
The investigation was intensified by registering a case under the Money Laundering Act.
Several banks, including Bank of India, have filed a complaint against Gangotri Enterprises and demanded action. The complaint alleged that the bank loan was misused by investing elsewhere. The CBI first registered a case in this case and started investigation, after which the ED has now intensified the investigation by registering a case under the Money Laundering Act.
Loan scam of Rs 1129 crore from 7 banks
Former MLA Vinay Shankar Tiwari runs a company called Gangotri Enterprises. Vinay Shankar Tiwari and his company are accused of taking a loan of about Rs 1129 crore from 7 banks for this company a few years ago and later cheated the same banks. Therefore, in view of the seriousness of the case, further action is now being taken by the investigating agency after taking the matter from the ED.
The investigating agency attached about 27 properties.
However, sources in the investigating agency say that in the same case last year, the investigation agency’s Lucknow zone team had seized several movable properties worth more than Rs 72 crore.
The attached assets are in Lucknow, Maharajganj and Gorakhpur. Last year, the investigating agency attached around 27 properties, including agricultural and commercial land as well as several residential buildings. The official value of the attached assets is Rs 2.50 crore. Its price is Rs 72 crore, although today its market price is many times more than this.
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