ED Freezes Assets Valued at Rs 2.85 Crore of Former UPPCL MD
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New Delhi, Jan 11 (NationPress) The Enforcement Directorate in Lucknow has provisionally frozen assets valued at Rs 2.85 crore belonging to Ayodhya Prasad Mishra, the ex-Managing Director of the Uttar Pradesh Power Corporation Limited, under the provisions of the PMLA, 2002, as reported by an official on Saturday.
The seized assets comprise three immovable properties: a residential flat, a commercial shop located in Lucknow, and agricultural land situated in Gonda. These properties are registered in the names of Ayodhya Prasad Mishra and his family members.
The ED initiated its investigation following an FIR filed by the UP Vigilance, PS Lucknow, under section 13(2) in conjunction with 13(1)(b) of the Prevention of Corruption Act, 1988 against Mishra.
Allegations suggest that Mishra generated an income totaling approximately Rs 1.92 crore from legitimate sources during the specified period, while he reportedly expended Rs 5.08 crore on asset creation. This indicates that he spent Rs 3.15 crore more than his legitimate income, reflecting an excess of 163.23 percent.
The ED's findings indicate that Mishra utilized the bank accounts of his family members to divert and integrate illicit funds into the procurement of various immovable properties, as detailed in a recent statement.
The Proceeds of Crime (POC) were laundered through the acquisition of agricultural, commercial, and residential properties in both Lucknow and Gonda, registered under his name and that of his family.
In an unrelated case, the ED in Agartala executed synchronized search operations across multiple sites in Tripura on Friday, targeting inter-state drug trafficking cartels involved in the illegal trade of narcotics such as Ganja and Phensedyl.
During these operations, authorities recovered approximately 66 kg of high-quality Ganja along with crucial evidence, including financial documents, records of benami properties, and electronic devices.
