Noose tightens around Misa Bharti: ED files chargesheet against CA Rajesh Agarwal

Documents in possession of India Today revealed at least three companies used by Rajesh Kumar Agarwal and Jain brothers to launder money in Jagat Projects Ltd had clear links with Misa Bharti and Shailesh Kumar.

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Noose tightens around Misa Bharti: ED files chargesheet against CA Rajesh Agarwal
Misa Bharti

In Short

  • ED has filed a prosecution complaint against Rajesh Agrawal.
  • Companies used by Agarwal to launder money have links with Bharti.
  • Agarwal has mediated between Misa Bharti's company and shell companies.

RJD chief Lalu Prasad Yadav's daughter Misa Bharti and her husband Shailesh Kumar have links with at least three companies probed by Enforcement Directorate in chartered Rajesh Kumar Agarwal and Jain brothers' money-laundering case. ED filed the chargesheet in Rajesh Agarwal and Jain Brothers' case on Friday.

Documents in possession of India Today revealed at least three companies- Mani Mala Delhi Properties Pvt. Ltd, Ad Fin Capital Services Pvt Ltd and Shalini Holdings Ltd-used by Rajesh Kumar Agarwal and Jain brothers to launder money in Jagat Projects Ltd had clear links with Misa Bharti and Shailesh Kumar.

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Analysis of Rajesh Kumar Agarwal's accounts have revealed that on May 27 and June 3, he received Rs 9,000,000 from these three companies which were transferred to Mishal Packers and Printers Pvt. Ltd, a company where both Misa and Shailesh were directors. Mishail Packers and Printers Pvt Ltd is also under Income Tax lens in connection with allegedly acquiring benami properties.

ED FILES PROSECUTION COMPLAINT

While the probe in Misa Bharti and her husband's case is still on, ED on Friday in Patiala House court filed a prosecution complaint against Rajesh Kumar Agrawal, M/s Jagat Projects Limited, Sant Lal Aggarwal & Satish Pawa (Directors M/s Jagat Projects Limited) and various other shell companies operated by Surender Kumar Jain and Virendra Jain.

On March 31, 2003, Serious Fraud Investigation Office had also probed Jain brothers case and submitted a report on March 31, 2016 red-flagging and requesting Supreme Court monitored Special Investigating Team to oversee the detailed probe. On September 14 Income Tax Department had carried out a series of searches in which it had seized documents pertaining to the companies allegedly involved in money laundering.

UNACCOUNTED MONEY LAUNDERED THROUGH SHELL COMPANIES

Subsequently ED also took over the probe and during the investigation, it was revealed that M/s Jagat Project Ltd and its directors have converted their unaccounted money to the tune of Rs. 64.70 crore into apparently legitimate transactions by way of share subscription through various shell companies. Out of this amount, Rs. 62.20 crore of unaccounted money was laundered through 26 shell companies controlled by Jain Brothers.

The modus operandi of Jain Brothers was to launder the unaccounted money through the process of placement of funds, layering of transactions and the final integration of laundering money into the banking channel camouflaged as legitimate share premium transactions. They would charge commission for this job.

Based on the statements of various persons recorded under Section 50 of PMLA and analysis of documents, it was established that Rajesh Kumar Agrawal has played a pivotal role in the transactions between Jain Brothers and others. Similarly he has been a mediator between Misa Bharti's company and shell companies, which provided the money into her company.

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