Itanagar, Jan 8 (NationPress) The Enforcement Directorate (ED) has provisionally attached immovable industrial assets valued at Rs 3.30 crore, located in an industrial sector of Rajasthan, under the Prevention of Money-Laundering Act (PMLA), 2002. This action is part of an investigation into the alleged fraudulent acquisition and use of Input Tax Credit (ITC), as reported by sources from the central probe agency on Thursday.

The ED's Itanagar Sub-Zonal office executed the provisional attachment of these assets, covering approximately 1,195 square yards in the Khushkhera, Khairthal-Tijara area of Rajasthan. The action was taken under the provisions of the PMLA, 2002, in relation to the inquiry into the suspected fraudulent claiming and utilization of Input Tax Credit (ITC).

According to ED sources, this attachment was enacted through a Provisional Attachment Order issued on Wednesday, January 7, pertaining to the case involving M/s Prisha Exim and Anmol Jain.

The investigation commenced following the filing of an FIR for scheduled offenses under various sections of the IPC, 1860.

It was discovered that M/s Shree Ram Enterprises had fraudulently produced false ITC amounting to approximately Rs 116 crore by issuing invoices without any actual supply of goods.

Further inquiries unveiled that the fraudulent ITC was systematically layered and funneled through a network of fictitious and shell companies, including M/s Nemchand Singh Traders, M/s Yogesh Traders, M/s Shri Mahalakshmi Enterprises, and M/s Technofab International.

These entities were found non-existent at their registered addresses, and the summons sent to them were unserved.

Upon analyzing the complex layering transactions executed by this network, it was determined that M/s Technofab International, identified as a fictitious entity, fraudulently claimed ITC and acted as an intermediary for the transfer of bogus ITC.

The investigation eventually revealed that M/s Prisha Exim, under the control of Anmol Jain, received and utilized Rs 7.39 crore of fraudulent ITC from the identified fictitious entity without any legitimate supply of goods.

This ITC was employed to settle GST obligations based on forged invoices and e-way bills. Further examination indicated that the funds transferred by M/s Prisha Exim to the fictitious supplier were rerouted to numerous shell entities across the country.

These entities exhibited unusually high turnovers despite lacking corresponding business operations, infrastructure, or authentic commercial transactions, suggesting systematic layering and laundering of Proceeds of Crime. The investigation further uncovered that the attached properties are registered under M/s Prisha Electricals, a proprietary concern entirely owned and controlled by Anmol Jain.

Ongoing investigations are in progress, as stated by sources.