ED attaches ₹3.25 crore in assets, charges man with laundering ₹15 crore

Who it concerns: Krishna Kumar Shrivastava (accused), the proprietor of M/s Rawat Associates (victim), the Directorate of Enforcement (investigating authority), the Special Court (PMLA) Raipur (judicial authority), and Chhattisgarh Police (initial investigators).

What the ED says it did

• ED filed a Prosecution Complaint on 23.09.2026 before the Special Court (PMLA), Raipur, for money laundering under PMLA, 2002.
• ED issued a Provisional Attachment Order (PAO) on 22.09.2026 attaching movable and immovable properties worth Rs. 3.25 Crore.
• The investigation originated from an FIR by Police Station Telibandha, Raipur, and a charge-sheet by Chhattisgarh Police for cheating, forgery, criminal intimidation, and conspiracy.
• In June 2023, the accused allegedly induced the victim to pay Rs. 15 Crore by falsely claiming a sub-contract for a Rs. 500 Crore Raipur Smart City project.
• The funds were transferred to five bank accounts opened fraudulently without the knowledge of the purported account holders.
• Proceeds of crime were layered through shell entities and remitted to Dubai, Hong Kong, and Singapore under fictitious commercial descriptions.
• Rs. 3.40 Crore was returned to the victim from tainted funds, leaving Rs. 11.60 Crore unrefunded.
• The accused was arrested on 30.07.2026 under Section 19 of PMLA, 2002, and remanded to ED custody.

Also in the document

• The ED stated that the bank accounts used for the transfer were opened fraudulently and the entities concerned were not found at their registered addresses.
• The funds were remitted outside India using fictitious descriptions such as freight charges and container leasing.
• Further investigation is stated to be under progress.