Bhopal, 29 November 2025 — The Enforcement Directorate (ED), Bhopal Zonal Office, has provisionally attached 12 immovable properties valued at approximately ₹2.08 crore in Ashta and Sehore, Madhya Pradesh, belonging to Manoj Parmar and associates, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The attachment was carried out on 28 November 2025 in connection with ongoing investigations into financial irregularities.
The ED investigation follows a CBI FIR filed against Manoj Parmar, Mark Pius Karari (then Branch Manager, Punjab National Bank, Ashta, Sehore) and others, under various sections of the Indian Penal Code, 1860. Subsequently, the CBI filed a chargesheet against Manoj Parmar and other accused for fraudulently availing government-backed loans.
Fraudulent Loans Under PMEGP and CMYUY Schemes
According to ED officials, Manoj Parmar, with the assistance of the former Branch Manager of Punjab National Bank, fraudulently obtained 18 loans worth ₹6.20 crore under the Pradhan Mantri Employment Generation Programme (PMEGP) and Chief Minister Yuva Udyami Yojana (CMYUY) in 2016. Of this, ₹6.01 crore was disbursed to accounts controlled by Parmar and his associates.
Investigations revealed that loan sanction procedures were bypassed, second-level approvals ignored, and loans were cleared beyond the financial powers of the branch manager. Field inspections conducted by bank officials later confirmed that no business units were ever established, and several purported borrowers denied applying for or receiving any loans, indicating gross misuse of the schemes intended for self-employment.
Diversion and Layering of Funds
The investigation further revealed that loan proceeds were diverted into accounts of companies controlled by Manoj Parmar and his close associates. From these accounts, funds were transferred across multiple linked entities, partially withdrawn in cash, and used to acquire properties in the names of Manoj Parmar and others.
ED sources noted that these companies acted as layers to circulate money and project false business activity, highlighting a systematic pattern of money laundering. The routing, layering, and cash withdrawal of government-subsidized loan funds constitute deliberate diversion of public money, forming proceeds of crime.
Legal Action and Ongoing Investigation
ED has confirmed that the investigation is continuing, with efforts focused on:
- Tracing the flow of funds across multiple accounts and entities.
- Identifying additional properties and assets acquired through illicit means.
- Examining links with other states and potential international connections.
Officials emphasized that these measures aim to ensure accountability of officials and private individuals involved and protect the integrity of government schemes.
