ED to attach properties of RP Info Systems
Kolkata: The Enforcement Directorate (ED) has initiated the process of attachment of properties of the company owned by Kaustuv Ray and Shivaji Panja.
Sources in the ED said that since the amount misappropriated is a huge Rs 515 crore, the decision to attach the properties has been taken up.
It has been learnt that the process to attach the properties of RP Info Systems Ltd, whose directors are Panja, Ray and Vinay Bafna has been initiated. As per the initial calculation of the ED officials, properties of RP Info Systems Ltd worth around Rs 70 crore will be attached.
Sources said that the ED officials have also decided to seize all computer systems and documents from the office of RP Info Systems Ltd.
It may be recalled that CBI had initiated a case against the company, its directors, the vice-president (Finance) Debnath Pal and unknown officials of the banks. Ray and Panja were arrested on March 15 for misappropriating Rs 515.15 crore, that they had taken as loan for the company from several banks by providing fabricated documents.
Soon after the arrest of the duo in this connection, ED had initiated a case and a probe into the alleged scam, that led to classification of the loan amount as non-performing asset.
The ED officials will also go through the computer systems and other documents of the group to assess the money trail, that is essential to identify where a portion of the loan amount was invested and what actually led to the entire incident.