The Enforcement Directorate’s (ED) zonal office in the city conducted search operations at multiple locations linked to One World Creations Private Limited. The complaint was lodged by UCO Bank, which accused the firm and its directors of defrauding the consortium of banks to the tune of Rs 93 crore. The central agency also attached multiple immovable properties, valued at Rs 1.69 crore, in Jalgaon and Nashik districts of Maharashtra on Saturday. The investigation found that the promoters of M/s OCPL resorted to voluminous circular transactions amongst shell entities for the purpose of layering of funds which were then utilised to purchase immovable assets, the agency said in a statement. The Central agency had begun a probe into the case, based on an FIR registered by the CBI against M/ s One WorldCreations private Limited, Urvil Jani and others. The search operation led to the seizure of various incriminating evidence related to the purchase of immovable. properties that are acquired out of Proceeds of Crime (POC) by using a complex web of dummy companies, partnerships firms, sole proprietary concerns in the names of accused individuals and also in the name of dummy/fictitious entities.
