ED files fresh chargesheet in Shakti Bhog money laundering case
New Delhi Nov 19 PTI The Enforcement Directorate ED has filed a fresh chargesheet against two operatives who allegedly provided fake business entries in connection with its money laundering probe against Shakti Bhog foods company in an alleged over Rs 3269 crore bank loan fraud case The agency in a statement issued on Thursday said the prosecution complaint has been filed against Ashok Kumar Goel and Devki Nandan Garg before a special Prevention of Money Laundering Act PMLA court here It charged the two arrested by the ED in September for having an active involvement in the offence of money laundering in bank fraud of Rs 326942 crore by Shakti Bhog Foods Limited SBFL The agency accused Goel and Garg of assisting Shakti Bhog Foods Limited and its directors in generation acquisition layering and siphoning off its loans funds through shell companies under their disposal They were actively involved in providing fake bills to the company without actual business transactions it said in the chargesheet These fake bills it alleged Facilitated inflated stock turnover and purchasesale of SBFL to enable it to secure enhanced credit facilities from consortium banks on the basis of this inflated financial reports It said the two were beneficiaries of the proceeds of crime The money laundering case against Shakti Bhog Foods Limited was filed after studying a CBI FIR that charged it and others for criminal conspiracy cheating and criminal misconduct The agency had also arrested the chairman and managing director CMD of Shakti Bhog Foods Limited K K Sharma and a chartered accountant CA named Raman Bhuraria in this case It has attached assets worth over Rs 98 crore and filed its first chargesheet sometime back against the company Kumar Bhuraria and others The CBI FIR against the company and its promoters came about after the State Bank of India SBI registered a complaint against the company According to the SBI the directors allegedly falsified accounts and forged documents to siphon off public funds The 24-year-old company which is into manufacturing and selling wheat flour rice biscuits cookies etc had grown organically as it ventured into food-related diversification over a decade with a turnover growth of Rs 1411 crore in 2008 to Rs 6000 crore in 2014 the bank complaint had said PTI NES AQS AQS
New Delhi Nov 19 PTI The Enforcement Directorate ED has filed a fresh chargesheet against two operatives who allegedly provided fake business entries in connection with its money laundering probe against Shakti Bhog foods company in an alleged over Rs 3269 crore bank loan fraud case The agency in a statement issued on Thursday said the prosecution complaint has been filed against Ashok Kumar Goel and Devki Nandan Garg before a special Prevention of Money Laundering Act PMLA court here It charged the two arrested by the ED in September for having an active involvement in the offence of money laundering in bank fraud of Rs 326942 crore by Shakti Bhog Foods Limited SBFL The agency accused Goel and Garg of assisting Shakti Bhog Foods Limited and its directors in generation acquisition layering and siphoning off its loans funds through shell companies under their disposal They were actively involved in providing fake bills to the company without actual business transactions it said in the chargesheet These fake bills it alleged Facilitated inflated stock turnover and purchasesale of SBFL to enable it to secure enhanced credit facilities from consortium banks on the basis of this inflated financial reports It said the two were beneficiaries of the proceeds of crime The money laundering case against Shakti Bhog Foods Limited was filed after studying a CBI FIR that charged it and others for criminal conspiracy cheating and criminal misconduct The agency had also arrested the chairman and managing director CMD of Shakti Bhog Foods Limited K K Sharma and a chartered accountant CA named Raman Bhuraria in this case It has attached assets worth over Rs 98 crore and filed its first chargesheet sometime back against the company Kumar Bhuraria and others The CBI FIR against the company and its promoters came about after the State Bank of India SBI registered a complaint against the company According to the SBI the directors allegedly falsified accounts and forged documents to siphon off public funds The 24-year-old company which is into manufacturing and selling wheat flour rice biscuits cookies etc had grown organically as it ventured into food-related diversification over a decade with a turnover growth of Rs 1411 crore in 2008 to Rs 6000 crore in 2014 the bank complaint had said PTI NES AQS AQS
