The Enforcement Directorate (ED) on Friday said it has frozen bank deposits with about Rs 95 crore after it raided multiple premises of the West Bengal-based Rashmi group of companies as part of a money laundering investigation.
The ED is probing the company and its promoters in a case related to the loss of Rs 73.40 crore to the public exchequer by “deliberate mis-declaring the facts and mis-utilising the dual freight policy of the Indian Railways to avail wrongful benefits of lower tariff of freight for transportation of iron ore”, the agency said in a statement.
The searches were carried out on July 13 at 3 places in West Bengal, it said.
The money laundering case stems from a CBI FIR against the Rashmi group of companies. These include Rashmi Cement Ltd and Rashmi Metalik Ltd.
“As a result of the search operation, Rs 64.97 crore lying in the bank account of the companies has been frozen,” the ED said.
Besides, Rs 1.01 crore in cash was seized from the searched premises, it said.
