Shakti Bhog money laundering case: ED files fresh chargesheet

New Delhi: 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 3,269 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 DevkiNandan 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 3269.42 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 purchase/sale 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.