Jaipur: 78 lakh cash and luxury cars recovered in ED raid, you will be shocked to know the names:

News Topical, Digital Desk : The Jaipur Zonal Team of Enforcement Directorate (ED) raided several places in Jaipur and Kota districts of Rajasthan in the Debock Industries Limited (DIL) scam under the Money Laundering Act (PMLA). During the ED raid, unaccounted cash worth Rs 78 lakh and such luxury cars have been recovered whose name and price will blow your mind. The names of the recovered cars are - Rolls Royce Phantom, Bentley Mulsanne, Mercedes G-Wagon (Brabus) and Toyota Land Cruiser, these four vehicles have been seized.

Action taken on the basis of complaint

ED also found that the company misled the stock market by making its lower level employees directors. Preliminary investigation has also revealed that the directors sent the funds abroad and invested it in real estate. ED took this action at the residence and offices of the company's chairman Mukesh Mahawar alias Mukesh Manveer Singh and his associates. Debock Industries is an NSE listed company. This ED investigation was initiated on the basis of FIR of Rajasthan Police and prosecution complaint filed by SEBI.

Several incriminating documents recovered

The complaint alleges that the company had raised about Rs 49.09 crore through a rights issue in June 2023. But by misusing this amount, the share prices were artificially increased and investors were defrauded. The investigation also revealed that the company showed fake bank accounts, recorded false transactions, did round tripping and adopted the wrong path for the rights issue by entering the main NSE board. After this, instead of investing the money raised in the business, the promoters and their associates grabbed it for personal gain. During this time, the ED has also seized many objectionable documents, banking records and digital devices.