It has reported that the Enforcement Directorate (ED) searched 16 premises across Chennai, Mumbai and Delhi, covering office and residential premises of Securekloud Tech Ltd, Pro Fin Capital Services Ltd, Quantum Global Securities Ltd, Unity Global Financial Services Pvt Ltd, Desert River Capital Pvt Ltd under PMLA, 2002.
ED has initiated a money laundering investigation on the basis of an FIR filed by Suresh Venkatachari, the promoter and CEO of Securekloud Technologies Limited (STL), against QGSL and its Directors and one Rohit Arora. A case was booked under PMLA.
The company Securekloud Technologies Limited (STL), earlier known as 8k Miles Software Services Limited is a software and IT services company with presence in India and US.
The complainant alleged that the stockbroker and financial service companies sold the shares pledged by the STL promoter for a loan. The complaint also stated that the share brokers who provided loan forged the signatures on delivery Instruction slips and sold the shares in off-market.
The investigation revealed that the directors and beneficial owners of these share brokerage and financial services companies transferred shares worth Rs 160 crores in off-market transactions and subsequently sold the same to generate huge proceeds of crime.
In this matter, the searches conducted led to the seizure of Rs 1.04 crore worth of cash, gold and diamond jewelry, and identification of immovable properties of more than Rs 30 crore. The search also led to the discovery of other movable assets in various DMAT accounts as well as the seizure of incriminating documents and digital evidence.
