An ED team searched places in Lucknow, Gorakhpur, Noida, Mumbai, and other places simultaneously. According to sources, the Central agency had prepared a chargesheet against him and will soon produce it in the court.
ED
The Enforcement Directorate (ED) on Monday carried out raids on Samajwadi Party leader and former MLA Vinay Shankar Tiwari at about 10 locations in the country for alleged financial fraud.
An ED team searched places in Lucknow, Gorakhpur, Noida, Mumbai, and other places simultaneously. According to sources, the Central agency had prepared a chargesheet against him and will soon produce it in the court.
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The sources further said that the ED investigation revealed that Messrs Gangotri Enterprises Limited, along with its promoters and directors took the advantage of the credit facilities worth Rs 1129.44 crore from a consortium of seven banks led by Bank of India. Later, they diverted the amount to other companies but gailed to return the amount to the banks. This caused a loss of about Rs 754.24 crore to the consortium of the banks.
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Earlier, Former MLA Vinay Shankar Tiwari’s assets worth Rs 72.08 crore were seized by the ED in November 2023.
Vinay Shanker Tiwari is the son of late Harishanker Tiwari. The ED took the action against his company, Gangotri Enterprises Limited, in the case of grabbing about Rs 1129.44 crore from the bank’s consortium.
On the complaint of the banks, the CBI had registered a case following which the ED also registered a case under the Money Laundering Act against all the directors, promoters, and guarantors of the company including Vinay Tiwari.
In 2023, the zonal office of the ED in the capital seized a total of 27 properties of Vinay Tiwari in Gorakhpur, Maharajganj and Lucknow, including land, commercial complex, residential complex, residential plots, etc.
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