ED provisionally attaches properties worth ₹3.25 crore; further investigation is under progress.
RAIPUR (India CSR): The Directorate of Enforcement (ED), Raipur Zonal Office, has filed a prosecution complaint before the Special Court (PMLA), Raipur, against Krishna Kumar Shrivastava, also known as K.K. Srivastava, in an alleged money-laundering case linked to a purported Raipur Smart City subcontract.
The complaint was filed on September 23, 2026, under the Prevention of Money Laundering Act (PMLA), 2002. A day earlier, the ED issued a Provisional Attachment Order (PAO), provisionally attaching movable and immovable properties valued at Rs. 3.25 crore, the agency said.
The investigation began on the basis of an FIR registered at Telibandha Police Station, Raipur, and a subsequent chargesheet filed by Chhattisgarh Police. The predicate offences relate to alleged cheating, forgery, criminal intimidation and criminal conspiracy.
According to the ED, in June 2023, Srivastava allegedly induced the proprietor of M/s Rawat Associates to part with ₹15 crore by claiming that a Raipur Smart City project valued at around Rs. 500 crore was available for subcontract. The amount was allegedly sought as performance security.
The ED said the Rs. 15 crore was transferred to five bank accounts, the details of which were communicated through WhatsApp. Its investigation allegedly found that these accounts had been opened fraudulently without the knowledge of the purported account holders. The entities connected with the accounts were reportedly not found at their registered addresses.
The agency further alleged that the proceeds of crime were layered through a network of shell and conduit entities before being remitted outside India under fictitious commercial descriptions, including freight charges and container leasing. The alleged beneficiaries were located in Dubai, Hong Kong, China and Singapore.
Of the Rs. 15 crore allegedly obtained, Rs. 3.40 crore was returned to the complainant through what the ED described as tainted and layered funds projected as genuine repayment. The remaining Rs. 11.60 crore was not refunded, according to the agency.
Srivastava was arrested on July 30, 2026, under Section 19 of the PMLA and was subsequently produced before the Special Court (PMLA), Raipur, which remanded him to ED custody.
The prosecution complaint seeks to prosecute him for the alleged offence of money laundering. The ED said further investigation is continuing. The allegations remain subject to judicial proceedings.
