ranchi the special court of prevention of money laundering act pmla ranchi on friday took cognizance of the prosecution complaint filed by the directorate of enforcement ed against businessman gyan prakash sarawgi and nine others under the pmla 2002the ed on tuesday said the accused persons had fraudulently availed bank loans amounting to rs 7736cr on the pretext of trading in textiles garments and construction items these loans were allegedly laundered through a maze of transactions involving intermediary companies and used in the activities of ms sarawgi builders and promoters pvt ltd which was primarily engaged in real estate business the ed initiated money laundering investigation on the basis of the three firs registered by the cbis economic offence wing eow ranchi against sarawgis company and othersearlier the ed had attached 10 immovable properties of sarawgi worth rs 425cr which were identified as proceeds of the crime on may 25 2020 it next seized rs 337cr in cash during searches on december 15 2021 and arrested gyan prakash sarawgi on march 29 2022 sarawgi is in judicial custody at birsa munda central jail ranchi further investigation into the matter is in progress the ed said