April 3, 2016 8:16 PM

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CBI to send Letters Rogatory to Aus seeking details of Pearls Group's activities

CBI will soon send Letters Rogatory to Australia to seek details of Pearls Group's activities in that country. The investigating agency suspects diversion of 670 crore rupees in that country. Agency sources said Pearls Group Chief Nirmal Singh Bhangoo was allegedly running real estate business in the name of his relatives in Australia. Letters Rogatory is a document issued by a court of a sovereign country to a court in another nation seeking legal assistance in probing a crime.Pearls Group is facing probe for allegedly duping over five crore investors to the tune of 45 thousand crore rupees in the name of developing land and forests.Sources said, if needed, Letters Rogatory will also be sent to Dubai in this connection as it is investigating the diversion of some funds there.During the probe in the last two years, CBI has found 1,300 bank accounts of the suspect company, its directors, and associated firms and has frozen assets to the tune of 280 crore rupees. They said the agency has managed to seize 20 thousand documents related to properties whose purchase value was estimated at five thousand crore rupees.

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