He attended consortium meetings with the Bankers and concealed the fact that he is the common beneficiary of the Aggregators and ZDPL," said the ED statement.
"The complaint filed by ED includes the money trail of all these properties depicting how the proceeds of crime derived from the schedule offence of defrauding the Indian Banks has been diverted through ZDPL and layered through various companies/bank accounts controlled by Vijay Choudhary and finally integrated into aforesaid properties," the ED statement said.
However, on observing that these contracts are not being closed for a long time and the money released by them as mobilisation advance to ZDPL
was pending for repayment by the aggregators/ ZDPL
for a long time, the foreign bankers of the aggregators enforced the bank guarantees and counter guarantees, causing irreparable loss to the Indian bankers of ZDPL