Kolkata, Sep 19 (Fresh Headline) Multiple mentions of unsecured loans in the accounts of several corporate entities hold the keys of the modus-operandi in the diversion of proceeds of the multi-crore cash-for-school-job case in West Bengal, say the Enforcement Directorate (ED) officials probing the money-trail and money-laundering angle in the matter.
The corporate entities identified by ED sleuths on this count mainly are linked to the two prime accused in the school job case, Sujay Krishna Bhadra and Arpita Mukherjee — both are currently in judicial custody over their alleged involvement in the case.
ED sleuths are currently checking the background and credentials of those individuals or entities to whom unsecured loans were given by these corporate entities and if necessary might summon some of them to get further details in the matter.
Experts of income tax laws in the area explained, while there is a limit for granting unsecured loan in cash either by an individual or corporate entity, there is no limit for giving such loans through cheques, demand drafts or electronic transfers. However, experts added, in such cases the onus is on the individual or corporate entity to justify the source of the money they gave as unsecured loans.
The ED sleuths found a semblance in fund diversion under the camouflage of unsecured loans with that in case of the multi-crore cattle smuggling scam. In that case, the central agency sleuths traced huge amounts of unsecured loans by two companies with Sukanya Mondal, daughter of Trinamool Congress strongman Anubrata Mondal, as the director.
These two companies gave huge amounts of unsecured loans amounting to around Rs 7 crore. ANM Agrochem’s unsecured loan amount was much higher at around Rs 4.5 crore, while remaining sum amounting to Rs 2.4 crore was to the debit of Neer Developer Private Limited. Sukanya Mondal was a director in both the companies.