The federal agency said in a statement that a provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach Awasthi's assets in Delhi's Hauz Khas Enclave area which Awasthi got transferred to himself from the IFFCO, Haryana (Gurugram) and Himachal Pradesh.
The case relates to illegal commissions worth over Rs 685 crore allegedly paid to the NRI sons of IFFCO Managing Director and CEO Awasthi and Indian Potash Ltd (IPL) Managing Director P S Gahlaut, as well as others by overseas suppliers during 2007-14.
The Enforcement Directorate on Friday said it has attached Rs 20.96 crore worth residential properties of IFFCO MD U S Awasthi in three states in a money laundering case linked to an alleged fertiliser scam and payment of Rs 685 crore as kickbacks.The federal agency said in a statement that a provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach Awasthi's assets in Delhi's Hauz Khas Enclave area which Awasthi got transferred to himself from the IFFCO, Haryana (Gurugram) and Himachal Pradesh.
The order was issued on Thursday and the properties are valued at Rs 20.96 crore, it said. A probe has found that "Udai Shanker Awasthi and others in IFFCO generated proceeds of crime and layered it through various unrelated entities and part of this was then transferred to the entities controlled by Awasthi and others", the statement said.
The case relates to illegal commissions worth over Rs 685 crore allegedly paid to the NRI sons of IFFCO Managing Director and CEO Awasthi and Indian Potash Ltd (IPL) Managing Director P S Gahlaut, as well as others by overseas suppliers during 2007-14. Indian Farmers Fertiliser Co-operative Limited (IFFCO) is a multi-state farmers' cooperative, while IPL is its company involved in supplying fertilisers, for which the government provides subsidies to keep rates affordable.
The agency had earlier attached fixed deposits valued at Rs 27.79 crore in the name of RJD Rajya Sabha MP Amarendra Dhari Singh, about Rs 36.55 crore deposits kept in Swiss bank accounts of Atrium Holdings Limited and Artistic Holdings Limited (both beneficially owned by an accused in the case, Pankaj Jain) apart from residential and commercial properties valued at Rs 54.11 lakh belonging to Jain. The MP was arrested by the Enforcement Directorate (ED) in the case and he later obtained bail.
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