ED Attaches Assets Worth ₹32.57 Lakh in Sikkim Fraud Case Linked To IHCAE Fund Siphoning
(Judicial Quest News Network)
Ganktok,6, February, 20025.The Directorate of Enforcement (ED), Gangtok Sub-Zonal Office, has provisionally attached movable and immovable assets worth ₹32.57 lakh belonging to Narendra Kumar Chettri, Smt. Jayanti Thapa (wife of Narendra Kumar Chettri), and other individuals under the Prevention of Money Laundering Act (PMLA), 2002. The action is in connection with a fraudulent scheme that siphoned funds from the Indian Himalayan Centre for Adventure and Eco Tourism (IHCAE) in Chemchey, South Sikkim.
Fraudulent Funds Transfer and Misuse
The ED’s investigation stems from an FIR filed on June 13, 2016, by the Sikkim Vigilance Police, which implicated Narendra Kumar Chettri during his tenure as Assistant Director-cum-Principal of IHCAE. It was revealed that Chettri dishonestly and willfully issued cheques amounting to ₹1.36 crore to unauthorized persons without maintaining any official records. These funds were subsequently transferred to private individuals, including his wife, and were withdrawn in cash without any legitimate transactions or material procurement.
Attached Assets
The assets provisionally attached by the ED include:
- Immovable Property: A plot of land measuring 0.1280 hectares located in South Sikkim, owned by Narendra Chettri.
- Movable Property: Bank account balances totaling ₹7.77 lakh, held across ICICI Bank, Axis Bank, SBI, and HDFC Bank in the names of various individuals.
Ongoing Investigation
The ED’s investigation under PMLA is ongoing, with continued efforts to trace the remaining proceeds of crime and locate other individuals involved in the fraudulent activities. The agency remains committed to identifying and securing properties and assets acquired through illegal means to prevent their disposal and safeguard public funds.
The investigation continues to unfold as ED intensifies its actions to bring those responsible to justice.
