Bhopal, Madhya Pradesh | The Enforcement Directorate (ED), Bhopal Regional Office, has filed a prosecution complaint (PC) under the Prevention of Money Laundering Act (PMLA), 2002, against Manoj Parmar, Mak Piyus Karari, and four others before the Special PMLA Court in Bhopal on January 28, 2026, officials confirmed. The court has taken cognisance of the complaint and issued notices to the accused.
The ED investigation was initiated on the basis of First Information Reports registered by the Central Bureau of Investigation (CBI), Bhopal, under provisions of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988. The CBI had subsequently filed a chargesheet in the matter.
According to ED officials, the probe revealed that Manoj Parmar, in collusion with the then branch manager of Punjab National Bank, Ashta, in Sehore district, fraudulently obtained loans under two government self-employment schemes — the Prime Minister’s Employment Generation Programme (PMEGP) and the Chief Minister Yuva Udyami Scheme (CMYUS).
Investigators found that forged documents and fabricated quotations were used to secure 18 loans in 2016. The total sanctioned amount was ₹6.20 crore, of which ₹6.01 crore was disbursed. The loan approvals were allegedly granted in violation of mandatory banking procedures, including second-level scrutiny, and exceeded the financial powers vested in the branch manager.
Subsequent physical verification and field inspections revealed that none of the business units shown in the loan proposals had been established. In several cases, the purported loan applicants had either not applied for the loans or were unaware of the disbursements made in their names, pointing to systematic misuse of the government schemes.
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The ED further found that the loan proceeds were diverted to bank accounts of firms controlled by Manoj Parmar and his close associates. From these accounts, funds were circulated among multiple entities, partly withdrawn in cash, and utilised to acquire assets in the names of the accused. Officials stated that these firms were used to create a façade of legitimate business activity while facilitating the laundering of illicit funds.
As part of the PMLA action, the ED has provisionally attached 12 immovable properties valued at approximately ₹2.08 crore in Ashta, Sehore district. The assets are alleged to have been acquired using proceeds generated from fraudulently obtained government loans.
Officials said the case highlights vulnerabilities in the implementation of public self-employment schemes and underscores the importance of financial intelligence, inter-agency coordination, and asset recovery in tackling corruption and misuse of public funds.
The Enforcement Directorate stated that further investigation is underway to identify additional assets, bank accounts, and individuals linked to the laundering of proceeds of crime. Authorities warned that any attempt to conceal or layer illicit gains would attract stringent action under the PMLA.
The case reflects the ED’s continued focus on white-collar crime investigations involving loan fraud, corruption, and money laundering, and its role in dismantling networks that exploit government welfare and employment schemes for personal gain.
