The Enforcement Directorate (ED) has escalated its fight against economic offenses by attaching a ₹13.48 crore immovable asset in Jaipur under PMLA provisions. The move is linked to a brazen fraud scheme executed by Vinayak Logistics entities and director Pravesh Kabra against Indian Railways, pushing total attached properties to ₹16.15 crore.
This comprehensive seizure neutralizes the full illicit proceeds from the scam, preventing their misuse or disappearance. It marks a pivotal step in holding fraudsters accountable.
Triggered by CBI FIRs and chargesheets from Nathdwara, Mandalgarh, and Bharatpur, the ED’s inquiry exposed a sophisticated racket. Culprits substituted high-rate cargo—marble powder and dolomite—with low-rate declarations like alum and putty, systematically shortchanging railway revenues.
In a two-year spree from 2021-2022, over 120 rakes were moved fraudulently via fake documents and bogus HSN codes. Lab tests by geological experts validated the misdeclaration, quantifying the freight and GST evasion at ₹16.15 crore.
Prior attachments covered ₹2.67 crore in assets bought with dirty money. The fresh probe revealed Kabra’s hold on the balance, funneled through expenditures to mask trails, culminating in the Gurugram property freeze.
As railways grapple with mounting freight frauds, this ED action signals zero tolerance. Authorities vow deeper probes into accomplices and potential international links, aiming to fortify supply chain integrity and safeguard public funds.