The Directorate of Enforcement (ED) has provisionally attached 59 immovable and movable properties, including 53 plots, commercial shops, industrial plots, and agricultural land, located in Delhi, Noida, Sonepat (Haryana), Jalandhar, and Hyderabad, as well as balances in bank accounts with a value of Rs. 28.67 crores belonging to Sunil Dhupar, a former chartered accountant and statutory auditor of M/s Shakti Bhog Foods Ltd (SBFL) & In the matter of M/s Shakti Bhog Foods Ltd. (SBFL), Devender Kumar, Indeep Singh Arora, and his family members are being sued under the Prevention of Money Laundering Act (PMLA), 2002.
The FIR filed by the CBI against M/s Shakti Bhog Foods Limited and others for criminal conspiracy, defrauding, and criminal misconduct leading to a bank fraud of Rs. 3269.42 Crore served as the foundation for the ED’s money laundering probe. Without engaging in any actual commercial operations, Shakti Bhog Foods Limited used phoney sale-purchase invoices from shell firms managed and controlled by Devender Kumar and other entry operators to syphon off loan monies and fictitiously increase the revenue of SBFL Group companies. Sunil Dhupar, a certified public accountant, and Indeep Singh Arora, an attorney, participated in the settlement of the SBFL SEZ Land Deal by coordinating the transfer of criminal proceeds through the bank accounts of family members and fictitious companies.
In a previous investigation of this case, the ED searched several locations, and six people—Kewal Krishan Kumar, CMD of SBFL, Siddharth Kumar, Director of SBFL, Tarun Kumar, VP (Purchase) of SBFL, Raman Bhuraria, CA of SBFL, Ashok Kumar Goel, and Devki Nandan Garg, both entry operators—were detained as a result. Three people—Siddharth Kumar, Tarun Kumar, and Ashok Kumar Goel—are now being held in judicial custody.
The Honourable Special Court has received one complaint from the prosecution and three supplemental complaints against each of the defendants, and the Honourable Court has taken cognizance of the offence against the defendants. Prior to this, the ED had attached a number of the accused’s movable and immovable properties, as well as those of other organisations, with a book value exceeding Rs. 100.44 crores. The current total attachment, in this case, is Rs. 129.11 Crore. Further research is now being conducted.
