Amritsar Embezzlement Case : ED prov Attached Rs. 9.7 Crore Assets

Directorate of Enforcement ED has provisionally attached properties worth Rs. 9.7
Crore belonging to Rupali Sharma W/o Daman Bhalla, Satnam Singh, Kanwaljeet Kaur,
Teena Vohra, Renu Vohra and Surinder Kaur Arora in connection with a case of
Embezzlement of Funds of Amritsar Improvement Trust. The properties attached include land
& building in Amritsar, Punjab and various movable properties viz. Bank account balance and
FDs.
ED initiated investigation on the basis of FIR registered by Police Station Civil Lines,
Amritsar, Punjab in the year 2017 based on a complaint filed by Chief Vigilance Officer, Local
Bodies, Punjab for forgery, cheating and other offences and embezzlement of funds of
Amritsar Improvement Trust to the tune of Rs.27 Crore.
ED investigation revealed that Daman Bhalla, Deputy Controller of Finance and
Accounts of Amritsar Improvement Trust, along with other accused persons had opened 6
bogus bank accounts in the name of Amritsar Improvement Trust and had transferred around
Rs. 71.40 Crore of the Trust’s funds into those 6 bank accounts. Further, they had
withdrawn/transferred Rs.27.12 Crore from these 6 bogus accounts. These accounts were
deliberately kept out of the cash books of the Amritsar Improvement Trust. The
withdrawn/transferred amount was used for purchasing immovable properties in the name
Rupali Sharma W/o Daman Bhalla and was kept or transferred in the saving bank account
and fixed deposits in the name of Satnam Singh, Kanwaljeet Kaur, Teena Vohra, Renu Vohra
and Surinder Kaur Arora.
Further investigation is under progress.