The Enforcement Directorate (ED) on Thursday attached moveable and immovable assets worth Rs 2.16 crore in connection with a case registered against chit fund company Nava Diganta Capital Services Limited.
The attached assets include Rs 16 lakh in 48 bank accounts and two plots worth Rs 2 crore at Narendrapur in Puri district and Kaipadar in Khordha district.
Former BJD MP Ramachandra Hansdah, former MLAs of Keonjhar Sadar and Khariar - Subarna Naik and Hitesh Kumar Bagartti respectively had earlier reportedly served as the directors of the dubious ponzi firm and its other group companies.
The ED had initiated an investigation into the matter under the Prevention of Money Laundering Act (PMLA) on the basis of the FIR and two charge sheets filed by the Central Bureau of Investigation (CBI) against Nava Diganta Capital Services Limited and others.
During the investigation, the ED officers learnt that Nava Diganta had collected public deposits by issuing redeemable preference shares and non-convertible debentures (income debentures and wealth debentures) on the pretext of providing higher interest to the depositors.
The officials of the tainted firm had issued money receipts and certificates without having any authorisation from regulatory authorities like RBI and the Securities and Exchange Board of India (SEBI).
The ED’s investigation also revealed that Nava Diganta’s directors had misappropriated the invested amount and diverted the funds as loans and advances to their other sister organisations.