ED, Guwahati Zonal Office has provisionally attached immovable and movable properties worth Rs. 3.50 Crore in the case of Late Shri Ranjit Kumar Borah, the then Deputy Chief Electrical Engineer (Con.), Northeast Frontier Railway (NFR), Maligaon, Guwahati & Others. The attached properties comprise a residential flat in Patna, Bihar, standing in the name of Smt. Sonal Jain, valued at Rs. 3.28 Crore (Approx.) and a term deposit maintained with Canara Bank in her name, to the extent of Rs. 21.24 Lakh (approx.).
Directorate of Enforcement (ED), Guwahati Zonal Office has provisionally attached immovable and movable properties worth Rs. 3.50 Crore in the case of Late Shri Ranjit Kumar Borah, the then Deputy Chief Electrical Engineer (Con.), Northeast Frontier Railway (NFR), Maligaon, Guwahati & Others. The attached properties comprise a residential flat in Patna, Bihar, standing in the name of Smt. Sonal Jain, valued at Rs. 3.28 Crore (Approx.) and a term deposit maintained with Canara Bank in her name, to the extent of Rs. 21.24 Lakh (approx.).
ED initiated investigation on the basis of an FIR registered by the Central Bureau of Investigation (CBI), AC-I, New Delhi under Section 120-B of the Indian Penal Code, 1860 and Sections 7 & 8 of the Prevention of Corruption Act, 1988 (as amended in 2018) against Ranjit Kumar Borah and others, alleging demand and acceptance of illegal gratification from private contractors in lieu of extending undue favours in the award and execution of contracts of the Northeast Frontier Railway. CBI had intercepted the delivery of bribe money on 14.12.2021, arrested the accused and subsequently filed a Charge Sheet in the matter in 2022.
ED investigation revealed that Ranjit Kumar Borah demanded and accepted bribes from Shri Chintan Jain and Shri Nayan Chandra Jain, proprietor of M/s Sunshine, a railway contractor firm, and parked the bribe money with them. The said Proceeds of Crime were utilized for the purchase of a flat at Platinum Towers, Gurugram, Haryana in the name of M/s Sunshine. Investigation further revealed that the said flat was sold in 2024 for approximately Rs. 3.5 Crore and the sale proceeds were layered through the bank accounts of M/s Sunshine, Chintan Jain and his wife, Smt. Sonal Jain, and were ultimately utilized for discharge of the home loans availed for acquisition of the aforesaid residential flat at Patna and for creation of fixed deposits with Canara Bank in the name of Smt. Sonal Jain. The attached properties thus represent the re-investment and integration of the Proceeds of Crime generated by Late Shri Ranjit Kumar Borah.
Ranjit Kumar Borah expired on 06.09.2024 during the pendency of investigation. As attachment proceedings under PMLA are proceedings in rem against the tainted property itself, the attachment has been effected in the hands of the present holder of the properties.
Further investigation is under progress.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.