The Enforcement Directorate has arrested a chartered accountant in Delhi in reference to a cash laundering probe towards Shakti Bhog Foods Ltd in an alleged Rs 3,269-crore financial institution fraud case, the company stated on Saturday.
Raman Bhuria was arrested on Friday for his “assistance and complicity” within the alleged fraud. Later within the day, he was produced in a particular Prevention of Money Laundering Act (PMLA) courtroom, which remanded him to ED custody until August 20.
“The arrest was in continuation of the rejection of his (Bhuraria’s) anticipatory bail by the honorable special court and searches conducted by the department at various places related to the arrested person,” the ED stated in a press release.
“During the search operation, various incriminating documents and digital evidence have been recovered,” it claimed.
The ED’s cash laundering case towards Shakti Bhog Foods Ltd was filed after going by way of the CBI’s FIR, which had accused the corporate and others of prison conspiracy, dishonest and prison misconduct.
“The allegations against the accused (Bhurariya) include his active aid and involvement in bank fraud through round-tripping through the concerned entities.”
The ED alleged, “Money was being diverted through fraudulent sale and purchase through various dummies and other entities.”
The ED had final month arrested Shakti Bhog’s Chairman and Managing Director (CMD) KK Sharma on this case.
The CBI FIR was registered after the State Bank of India (SBI) filed a grievance towards the corporate.
According to SBI, the administrators allegedly cast accounts and cast paperwork to divert public cash.
The 24-year-old firm, which manufactures and sells wheat, flour, rice, biscuits, cookies, and so on., with a turnover of Rs 1,411 crore in 2008 foraying into food-related diversification in a decade, systematically was developed. 6,000 crore in 2014, the financial institution’s grievance stated.
.
With inputs from TheIndianEXPRESS
