Chandigarh: The Enforcement Directorate (ED) has filed a prosecution complaint against footwear manufacturer Lakhani India Limited, its promoter Parmeshwar Dayal Lakhani and others in an alleged ₹162-crore bank fraud and money-laundering case involving three public sector banks. Special CBI judge Vijayant Sehgal on Friday issued notices to the accused and fixed Jan 18, 2027, for hearing them before taking cognisance of the offence under the Prevention of Money Laundering Act (PMLA). The court issued the directions under the proviso to Section 223(1) of the Bharatiya Nagarik Suraksha Sanhita (BNSS).The complaint was presented before the Special Court for CBI, PMLA and NIA cases in Panchkula on Nov 12. The case was placed before the duty judge as the regular Special Judge was on leave. The court had directed scrutiny of the voluminous complaint and supporting documents before proceeding further.The ED’s investigation stems from multiple FIRs registered by the CBI in 2021 and 2023 in Delhi and Chandigarh against Lakhani India, its group companies and promoters Parmeshwar Dayal Lakhani and Suman Lakhani. The FIRs relate to allegations of criminal conspiracy, cheating and diversion of bank funds. According to the ED, Lakhani India, Lakhani Rubber Udyog Pvt Ltd, Lakhani Apparel Pvt Ltd and other group entities allegedly caused losses of around ₹162 crore to Indian Overseas Bank, Punjab National Bank and Allahabad Bank by diverting and misusing loan funds.The agency alleged that money borrowed through business and capital loans was routed through related companies and diverted for purposes other than those for which it was sanctioned. The alleged irregularities included selling goods to related parties at losses, repaying loans of sister concerns and making unusual interest payments to directors. These transactions were allegedly carried out at the directions of the promoters. In April 2025, the ED provisionally attached seven immovable properties worth more than ₹110 crore under the PMLA as part of its action to secure alleged proceeds of crime.The attached assets included five commercial plots spread over 20 acres, a two-acre farmhouse and a commercial flat-cum-office in the National Capital Region. With the filing of the prosecution complaint, the investigation has entered the next stage of judicial proceedings. The court will consider taking cognisance after hearing the accused.
