Bengal PMLA court orders ₹3.05 crore restitution to fraud victims in Kolkata case
Synopsis
A Kolkata PMLA court has done something rare — ordered frozen assets returned to the companies that were actually defrauded. The ED's no-objection submission unlocked ₹3.05 crore for Eko Diagnostic and ₹23.63 lakh for Prognosys Medical, victims of a ₹26.15 crore tender-fraud scheme run through a fictitious bank account linked to the West Bengal Health Department.
Key Takeaways
The Special Court (PMLA), Kolkata ordered restitution of ₹3.05 crore to M/s Eko Diagnostic Pvt.
Ltd. and ₹23.63 lakh to M/s Prognosys Medical Systems Pvt.
The accused, Budhaditya Chattopadhyay and others, allegedly defrauded M/s Prognosys of approximately ₹26.15 crore by falsely claiming influence with the West Bengal Health Department .
Funds were collected through a bank account named 'ACWBHFW Services' under the pretext of tender-related earnest money.
Charges were framed against Budhaditya Chattopadhyay on 22 September 2025 in M.L.
The ED filed a no-objection for release of attached properties, enabling the court's restitution order.
A Special Court (PMLA) in Kolkata has ordered the restitution of ₹3.05 crore to M/s Eko Diagnostic Pvt. Ltd. and ₹23.63 lakh to M/s Prognosys Medical Systems Pvt. Ltd., both identified as victims of money laundering in a case investigated by the Enforcement Directorate (ED). The order, issued on 17 June, marks a significant application of the Prevention of Money Laundering Act (PMLA), 2002's restitution provisions, restoring Proceeds of Crime (PoC) directly to legitimate claimants.
Background of the Fraud
The ED launched its investigation under the PMLA on the basis of an FIR registered by the Electronic Complex Police Station in Bidhannagar, Kolkata, against Budhaditya Chattopadhyay, Swaroop Ghosh, and others. The accused allegedly defrauded M/s Prognosys Medical Systems Pvt. Ltd. of approximately ₹26.15 crore by falsely claiming influence with the West Bengal Health Department and collecting funds under the guise of tender-related earnest money through a bank account operated under the name 'ACWBHFW Services'.
A second FIR was also registered at Anandapur Police Station against the same accused for similar fraudulent conduct, and was taken into account during the ED's investigation. The offences include criminal conspiracy, cheating, criminal breach of trust, and forgery.
How the Money Was Laundered
ED investigators found that the accused systematically generated and layered the Proceeds of Crime through multiple bank accounts and shell entities. The funds were then used to acquire immovable properties and make investments in the names of the accused and their family members. Searches were conducted, linked bank accounts were frozen, and the attached properties were identified as PoC assets.
Court Proceedings and Charges
The ED filed a Prosecution Complaint — M.L. Case No. 03 of 2024 — before the Special Court (PMLA) under Section 45 of the PMLA. Charges were formally framed against the principal accused, Budhaditya Chattopadhyay, on 22 September 2025. Recognising the PMLA's intent to restore PoC to its rightful owners, the ED submitted a no-objection before the court for the release of the attached, seized, and frozen properties to the victim companies.
Significance of the Restitution Order
The court's directive to release the properties to the two victim firms reflects a growing emphasis on victim-centric enforcement under the PMLA — a framework that has historically been criticised for prioritising asset attachment over victim compensation. Notably, this comes amid a broader push by the ED to demonstrate that money-laundering investigations result in tangible relief for defrauded parties, not just prosecutions. The case is among a handful where restitution has been ordered while the underlying criminal trial is still ongoing.
Point of View
Not the rule — most enforcement actions end with asset attachment that languishes in legal limbo for years while victims go uncompensated. The ED's decision to file a no-objection here is notable, and the court's swift response sets a precedent worth watching. Yet the underlying ₹26.15 crore fraud dwarfs the amounts restored so far, meaning the majority of the loss remains unrecovered. The real measure of this case's success will be whether prosecution leads to full restitution — and how quickly the trial moves given that charges were framed only in September 2025.
NationPress
13 Aug 2026
Frequently Asked Questions
What did the Kolkata PMLA court order in the Budhaditya Chattopadhyay case?
The Special Court (PMLA) in Kolkata ordered the restitution of ₹3.05 crore to M/s Eko Diagnostic Pvt. Ltd. and ₹23.63 lakh to M/s Prognosys Medical Systems Pvt. Ltd., both victims of money laundering. The order was based on a no-objection submission by the Enforcement Directorate for the release of attached and frozen assets.
Who are the accused in the Bengal PMLA money laundering case?
The principal accused is Budhaditya Chattopadhyay, against whom charges were framed on 22 September 2025. Swaroop Ghosh and others are also named in FIRs registered at the Electronic Complex Police Station in Bidhannagar and at Anandapur Police Station, Kolkata.
How was the fraud carried out in this case?
The accused allegedly falsely claimed influence with the West Bengal Health Department and collected funds from M/s Prognosys Medical Systems under the pretext of tender-related earnest money, routed through a bank account named 'ACWBHFW Services'. The total amount allegedly defrauded was approximately ₹26.15 crore, which was then layered through multiple accounts and used to acquire properties.
Why is this PMLA restitution order significant?
Restitution orders under the PMLA — where frozen assets are returned to defrauded victims rather than held by the state — are relatively uncommon. This order reflects the Act's intent to make victims whole, and the ED's no-objection submission was a key step in enabling the court to act. It sets a procedural example for similar pending cases.
What happens next in the case?
The criminal trial against Budhaditya Chattopadhyay and others continues before the Special Court (PMLA). While the restitution of ₹3.05 crore and ₹23.63 lakh has been ordered, the total alleged fraud of ₹26.15 crore means further recovery proceedings are likely to follow as the case progresses.
