On Tuesday, the Directorate of Enforcement (ED) updated the Calcutta High Court on its ongoing investigation into a multi-tier recruitment scam in West Bengal. The ED disclosed that it had scrutinized Leaps & Bounds, a company suspected of being a front for illicit proceeds from the recruitment scam. Abhishek Banerjee, the CEO of the company, and his wife were also subjects of the investigation.
During the proceedings before a single bench of Justice Amrita Sinha, responsible for overseeing the investigation, the ED revealed that Abhishek Banerjee had submitted a substantial amount of documentation to the agency. The provided documents amounted to an extensive 5,500 pages, shedding light on various aspects of the case.
DSG Dhiraj Trivedi, representing the ED, informed the court about the depth of their investigation, stating, "We have investigated all the parties. They have given us 5500 pages. These documents include from where money has come, the company's details, etc." The ED emphasized its intention to present a comprehensive report to the court, sealing it for confidential scrutiny. Due to the live-streamed nature of the proceedings, Trivedi refrained from disclosing all details, noting that they would likely be covered in the next day's newspapers.
DSG Billwadal Bhattacharya, representing the Central Bureau of Investigation (CBI), also conveyed that the CBI would be submitting its report alongside the ED's on December 14.
Following the statements from both parties, the bench, headed by Justice Amrita Sinha, decided to adjourn the hearing to January 2024. The bench took the opportunity to highlight the provisions of Section 5 of the Prevention of Money Laundering Act (PMLA) to the ED's counsel.
Expressing concern over the voluminous documents presented, the bench pointed out that the extensive paperwork indicated a large number of properties involved. Justice Sinha urged the ED to scrutinize the source of income, questioning how one could amass such a significant number of properties in a relatively short time span since the company's inception in 2014. The recruitment activities also commenced in the same year, prompting the bench to emphasize the need to investigate the money trail thoroughly.
Referring to Section 5 of the PMLA, the bench noted its provision allowing provisional attachment of properties if there is a reason to believe they might be disposed of or transferred. This precautionary measure aims to prevent interference with ongoing proceedings and investigations. Given the substantial number of properties involved in the case, the bench expressed concerns about potential transfers or disposals that could disrupt the probe.
In response, the counsel for the ED reassured the court of the agency's commitment to making progress in the case. The ED affirmed its dedication to leaving no stone unturned in the pursuit of a thorough and comprehensive investigation. Despite the challenges posed by the extensive documentation and numerous properties under scrutiny, the ED conveyed confidence in its ability to handle the complexities of the case.
TAGS: CEO Investigation Documents DSG Dhiraj Trivedi Report CBI (Central Bureau of Investigation)
