ED files prosecution complaint in money laundering case against Rajasthan-based company
Jul 02, 2020
New Delhi [India], July 2 : The Enforcement Directorate (ED) has filed a prosecution complaint (chargesheet) against Agribiotech Industries Ltd and two of its managing directors before a special court in Jaipur in connection with a money laundering case related to illegal excess production of Extra Natural Alcohol (ENA) and Rectified Spirit (RS).
According to the ED, the prosecution complaint has been filed against Agribiotech Industries Ltd managing directors Girdhar Gopal Bajoria and Ashutosh Bajoria for the contravention of several relevant Section of the Water (Prevention and Control of Pollution) Act, 1974 and the Environment (Protection) Act, 1986.
The ED, in its prosecution complaint, sought the confiscation of the attached property valued at Rs 8.38 crore apart from punishing the accused under relevant sections of the PMLA.
Investigation in the matter was taken up on the basis of two criminal complaints filed by the Rajasthan State Pollution Control Board before a Sikar court, ED said in a statement.
"During the investigation under the Prevention of Money Laundering Act (PMLA), 2002, it was revealed that Agribiotech Industries Ltd was having permission for the production of Extra Natural Alcohol (ENA) and Rectified Spirit (RS) of 45,000 liters per day, whereas it was producing more than 65,000 liters per day thus resorting to illegal excess production of 1,38,08,304 liters during the period from December 2007 to July 2012," the statement said.
The ED said that the company generated illegitimate profits of Rs 8.3 crores over the period.
"Investigation also revealed that the company was also not maintaining Effluent Treatment Plant (ETP) as envisaged under the board guidelines, thereby resulting in an illegitimate gain of Rs 8,20,285," the statement said.
"Accordingly, proceeds of crime amounting to Rs 8.38 crore, in the form of immovable property situated at RIICO Industrial Area, Ajitgarh, Sikar was attached which has been confirmed by the Adjudicating Authority (PMLA), New Delhi," it added.
