Indore (Madhya Pradesh) [India], February 3 : The Directorate of Enforcement (ED), Indore Sub-Zonal Office, has provisionally attached immovable properties worth Rs 39.91 Lakh under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with a disproportionate assets case involving Chetan Patil, a former employee of the Indore Municipal Corporation (IMC).
According to an official release issued on Tuesday, the attachment action was carried out on Monday (February 2). The attached properties consist of a plot and a residential building held in the name of Chetan Patil and his wife, Jyoti Patil.
The ED stated that the current market value of these properties exceeds Rs 80 lakh.
The enforcement agency initiated the probe based on an FIR registered by the Economic Offence Wing (EOW), Indore, under Sections 7, 13(1)(b), and 13(2) of the Prevention of Corruption Act, 2018 (which are scheduled offences under the PMLA).
The case concerns allegations that Patil accumulated assets disproportionate to known sources of income, amounting to approximately Rs 1.38 crore, during the period from October 1, 1998, to April 12, 2023, which was grossly disproportionate to Patil's known lawful income of Rs 55.11 lakh.
During the investigation, the ED found that the proceeds of crime were allegedly laundered through multiple bank accounts held in the name of Chetan Patil and a proprietorship concern, M/s Nagrodh Architect Engineers and Infrastructure, in the name of his wife.
The firm was found to have no genuine business activity and was allegedly used to route unexplained cash deposits and to layer funds. The tainted funds were further utilised for the acquisition of immovable properties, repayment of housing loans, LIC premia, and other personal expenditures, indicating placement, layering, and integration of proceeds of crime, the release read.
Further investigation into the matter is underway.