New Delhi [India]: Enforcement Directorate (ED) has provisionally attached assets worth Rs 2.14 crore in its probe into money laundering charges against Delhi-based Shakti Bhog Foods company in connection with an alleged over Rs 3,269 crore bank loan fraud case.
The properties that have been attached by the central agency are of Devki Nandan Garg, Ashok Kumar Goel, Mahesh Kumar, Devender Kumar and other entry operators and RN Saraf and Ramesh Goyal, Chartered Accountants of Devki Nandan Garg under the Prevention of Money Laundering Act (PMLA), 2002.
According to the ED statement issued on Thursday, the entry operators had supplied fake invoices and assisted Shakti Bhog Foods Limited in committing loan fraud with a consortium of 10 banks led by the State Bank of India.
ED initiated a money laundering investigation on the basis of an FIR registered by the Central Bureau of Investigation (CBI) against Shakti Bhog Foods Limited and others, for criminal conspiracy, cheating and criminal misconduct resulting in bank fraud of Rs 3,269.42 crore.
According to the ED, Shakti Bhog Foods Limited had procured fake bills of purchase-sale from the dummy entities under the command and control of Ashok Kumar Goel, Devki Nandan Garg Ashok Kumar Goel, Mahesh Kumar, Devender Kumar and other entry operators without having any genuine business transactions.
The Chartered Accountants, RN Saraf and Ramesh Goyal were actively assisting Devki Nandan Garg, entry operator in legalising his illegal accommodation entries, the ED said.
Investigation revealed that these persons also acquired proceeds of crime in the form of commission and fee. Shakti Bhog Foods Limited committed the offence of money laundering with their aid and assistance including generation, acquisition, layering and siphoning off its loan funds. Further investigation is under progress.
During the investigation, ED had conducted searches on various premises and arrested Kewal Krishan Kumar, CMD Shakti Bhog Foods Ltd on July 4, 2021, Raman Bhuraria, CA on August 13, 2021, Ashok Kumar Goel and Devki Nandan Garg, entry operators on September 20, 2021 and September 21, 2021 respectively under the provisions of Prevention of Money-laundering Act, 2002.
Kewal Krishan Kumar, Raman Bhuraria and Ashok Kumar Goel are under judicial custody while Devki Nandan Garg has been granted interim bail on medical ground.
Prosecution Complaints against all these persons have been filed and the Special Court has also taken cognisance of the offence against the accused persons.
Prior to this, by way of provisional attachment orders, ED has attached various immovable and movable properties of the accused persons having book value of over Rs 98.3 crore. With the present provisional attachment total attachment in the case stands at Rs 100.44 crore.