Jyoti Ltd’s land listed as DPIL’s property by CBI

  • | Saturday | 22nd September, 2018

ED officials said that they will do internal review and take further decision,” the spokesperson added. This land in Sama is in the name of Jyoti Ltd and it has no connection with Bhatnagar or his company,” Jyoti Ltd’s spokesperson said.“Our top management met the ED officials and even produced the original papers of the property. ED officials reportedly told Jyoti Ltd’s officials that they were simply acting on the directions of the CBI that had handed them over the list of properties in Bhatnagar’s case.Jyoti management is also planning to approach the CBI to clear the confusion. The central probe agency had searched the corporate office of the company and residences of its directors apart from the ED that had attached DPIL’s immovable properties. Vadodara: How did the property owned by engineering major, Jyoti Ltd land up in the list of properties owned by industrialist Amit Bhatnagar, who is in jail for defrauding banks?The management of Jyoti Ltd is baffled after the Enforcement Directorate (ED) decided to put status quo on its property in Sama area.

Vadodara: How did the property owned by engineering major, Jyoti Ltd land up in the list of properties owned by industrialist Amit Bhatnagar, who is in jail for defrauding banks?The management of Jyoti Ltd is baffled after the Enforcement Directorate (ED) decided to put status quo on its property in Sama area. Jyoti’s top officials have already met ED recently and presented their case.Few days ago, the city survey office had reportedly put status quo on Jyoti Ltd’s land measuring 25,123 square meters near Navrachana School in Sama in connection with the crackdown on Bhatnagar, director of Diamond Power Infrastructure Ltd (DPIL).“We have no idea how Jyoti Ltd’s property got involved in Bhatnagar’s case. This land in Sama is in the name of Jyoti Ltd and it has no connection with Bhatnagar or his company,” Jyoti Ltd’s spokesperson said.“Our top management met the ED officials and even produced the original papers of the property. ED officials said that they will do internal review and take further decision,” the spokesperson added. ED officials reportedly told Jyoti Ltd’s officials that they were simply acting on the directions of the CBI that had handed them over the list of properties in Bhatnagar’s case.Jyoti management is also planning to approach the CBI to clear the confusion. Bhatnagar was made director of Jyoti Ltd about a decade ago but his tenure lasted only six months following which he held no position in the company.Jyoti Ltd’s director Tejal Amin and Bhatnagar, had come together for organizing Vadodara Marathon that is one of the most popular events in the city.However, some years ago Bhatnagar separate from Vadodara Marathon due to differences over his working style. Amin and Bhatnagar haven’t been on talking terms since then.DPIL and its top management including Bhatnagar have been booked by the CBI for cheating various banks to the tune of Rs 2,654 crores by falsification of records, creation of false documents and forgery of records. The central probe agency had searched the corporate office of the company and residences of its directors apart from the ED that had attached DPIL’s immovable properties.

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