Bhopal, March 25 (SocialNews.XYZ) The Directorate of Enforcement (ED) in Bhopal has taken legal action against Brij Maheshwari and others, filing a Prosecution Complaint under the Prevention of Money Laundering Act (PMLA), 2002.
This complaint, submitted to the Special Court (PMLA) in Bhopal on March 22, 2025, has been officially acknowledged by the court.
The investigation began following a charge-sheet from the Central Bureau of Investigation (CBI), specifically its Bank Securities & Fraud Cell in New Delhi.
The ED's inquiry uncovered that M/s Nava Bharat Press (Bhopal) Pvt Ltd, led by Director Sumeet Maheshwari, had secured loans from the Bank of Maharashtra's Gautam Nagar branch in 2004. These loans, intended for upgrading the press and acquiring machinery, were allegedly misused.
Instead of their designated purpose, the funds were funnelled through accounts linked to employees of the Enbee Group of companies, controlled by the Maheshwari family.
The investigation revealed that the Maheshwari family utilised these corporate entities to redirect the loan money, addressing personal and corporate debts. This diversion led to the misappropriation of funds, resulting in a loss of Rs 15.67 crore for the Bank of Maharashtra as the loan account became a non-performing asset (NPA).
In a prior development, the ED had provisionally attached assets worth Rs 2.36 crore, including 10 properties in Satna and Sehore, Madhya Pradesh, through an order dated March 30, 2024.
This attachment was later upheld by the Adjudicating Authority under the PMLA in New Delhi on September 10, 2024.
Nava Bharat Press (Bhopal), which publishes the Hindi daily 'Navbharat' in Madhya Pradesh, and its promoters, the Maheshwari family, are located in various locations including Bhopal, Satna and Sehore districts. They also print an English newspaper ‘Central Chronicle’, formerly known as ‘MP Chronicle.’
This case underscores the alleged misuse of financial systems and highlights the ED's efforts to address financial irregularities and ensure accountability.
Source: IANS
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