Guwahati, May 9: The Enforcement Directorate (ED) has seized six properties in Guwahati related to Agnipa Energy Private Limited under the Prevention of Money Laundering Act (PMLA), 2002. The seized assets include two commercial spaces in ‘Shine Towers’ and two flats along with two penthouses in the ‘Shine Haven’ project, valued at approximately ₹6.56 crores.
These properties are registered under the names of Anil Jaina, Runu Jaina, and Shine Realtors Private Limited. The ED initiated its investigation based on a complaint from the Bank of India, which led to the filing of an FIR by the CBI and ACB, Guwahati, citing various sections of the IPC, 1860, and the Prevention of Corruption Act, 1988. Subsequently, the CBI filed a charge sheet on October 17, 2024, against nine accused, including three promoter-directors of the debtor company, three officials from the Bank of India, and partners from the intermediary entity, Shine Makefab Joint Venture.
In this case, the promoters-directors of Agnipa Energy Private Limited secured a loan of ₹10.65 crores from the Bank of India in February 2013 for a small hydropower project in Baksa, Assam. They submitted forged documents indicating a ₹3.75 crore equity investment from Urch Traders Private Limited, along with a fake certificate issued by an individual who was never the company’s statutory auditor.
Out of ₹9.33 crores disbursed in 28 installments between 2013 and 2015, ₹8.67 crores (approximately 70.54% of the project expenditure) were transferred to the joint venture Shine Makefab JV, along with transfers to affiliated entities Shine Realtors, Shine Combine, and Shine Shelters Private Limited.
Transactions were conducted without any fair commercial basis, including an illegal transaction of ₹75 lakhs on the first day of distribution, of which ₹52 lakhs was withdrawn in cash the same day. Additionally, there was a reverse/round-trip transaction of approximately ₹1.43 crores between the borrower and the bank, with a total of ₹1.01 crores deposited back into the loan account on the same day in four transactions in 2015 to suppress the identification of NPAs.
These transactions violated approval conditions and were executed through an unknown bank account in Karnataka, resulting in a wrongful loss of ₹8.76 crores to the Bank of India, classified as proceeds of crime under PMLA. Further investigations are ongoing.
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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