ED Attached Farm house of Lalu’s daughter Misa in Delhi

(Pi Bureau) LUCKNOW . ED attaches Farm House of Ms Misha Bharti and Shri Shailesh Kumar in New Delhi held in the name of M/s Mishail Packers and Printers Pvt Ltd., Enforcement Directorate has provisionally attached a farm house (26, Palam Farms, Bijwasan, New Delhi), of Ms. Misha Bharti and Shri Shailesh Kumar, held in the name of M/s Mishail Packers and Printers Pvt Ltd.,

which was purchased using Rs. 1.2 Crore involved in money laundering in the year 2008-09. Earlier, Serious Fraud Investigating Office (SFIO) had filed a criminal complaint in the Tis Hazari Courts, Delhi, against Jain Brothers and others. Accordingly, a case under Prevention of Money Laundering Act, 2002 (PMLA) was opened by the Enforcement Directorate.

The modus operandi of Jain Brothers was to launder the unaccounted money through the process of placement of funds (cash), layering of transactions and the final integration of laundering money into the banking channel camouflaged as legitimate share premium transactions. Funds in cash were brought in by the mediators on behalf of the beneficiaries through the mediators. Jain Brothers were providing accommodation entries by accepting cash from their beneficiaries through mediators and converting the same into share premium transactions in the beneficiary company.

In this process Jain Brothers earned money as a certain percentage of the unaccounted money converted into share premium.In this case, one of the beneficiaries of Jain Brothers was M/s Mishail Packers and Printers Pvt Ltd., who have laundered their unaccounted money of Rs. 1.20 Crore by taking accommodation entries, through mediator, in the form of share capital and share premium by various shell companies controlled by Shri Surendra Kumar Jain & Shri Virendra Kumar Jain (Jain Brothers and others).

This laundered money was utilized for purchase of a farm house at Bijwasan, New Delhi.During investigation against Jain Brothers, Jagat Projects Ltd. and others, it has come out that the 1,20,000 shares of M/s Mishail Packers and Printers Pvt. Ltd. were bought during the year 2007-08 & 2008-09 @ of ₹ 100/- per share, by 4 shell companies viz. M/s Shalini Holdings Limited, M/s Ad-Fin Capital Services(India) Pvt. Ltd., M/s Mani Mala Delhi Properties Pvt. Ltd. and M/s Diamond Vinimay Pvt. Ltd. These shell companies, except M/s Desmond Vinimay Pvt. Ltd., were registered at Delhi and were managed and controlled by Jain Brothers (Shri Surendra Kumar Jain, Virendra Jain).

The company M/s Desmond Vinimay Pvt. Ltd. is a Kolkata based company managed by Santosh Kumar Shah. The above mentioned 1,20,000 shares were bought by Ms. Misa Bharti at the price of Rs. 12/- per share in the year 2009. During investigation, it is also revealed that Sh. Rajesh Agarwal, CA and Mediator has provided cash Rs. 90 lakhs to Jain Brothers in advance so as to invest in M/s Mishail Packers and Printers Pvt Ltd as share premium.

It is pertinent to mention that Sh. Rajesh Aggarwal is also mediator in M/s Jagat Projects Ltd.05.09.2017Earlier in this case ED conducted searches at the premises of M/s Mishail Packers and Printers Pvt. Ltd. at Bijwasan and the residential premises of its directors, Shri Shailesh Kumar and Ms. Misa Bharti at Ghitorni and Sainik Farms in New Delhi in connection with PMLA investigation. During searches various incriminating documents, electronic devices including mobile phones were recovered and seized.

The company, M/s Mishail Packers and Printers Pvt. Ltd., was registered at the address 25, Tuglak Road, New Delhi till the shares were bought by Ms. Misa Bharti. It was only during the year 2009-10 that the address was changed to Farm No. 26 Palam Farms, VPO Bijwasan, New Delhi. Ms. Misa Bharti and Shri Shailesh Kumar were the directors of the company during the relevant period.Jain Brothers, Shri Rajesh Agrawal, CA Shri Shailesh Kumar & Ms Misha Bharti, who were the directors of M/s Mishail Packers and Printers Pvt Ltd., are the key persons behind the money laundering of Rs. 1.20 Crore. Shri Surendra Kumar Jain, Virendra Jain and Shri Rajesh Kumar Agarwal were arrested by the ED and are under Judicial Custody. Further investigation is under progress.

                                                                                                                                                                         “siddharth kalhans”