NAFED scam: ED attaches assets worth Rs. 14 crore
New Delhi, [India], Feb. 11 (ANI): The Enforcement Directorate on Saturday provisionally attached assets worth Rs. 14 crore belonging to Abhilasha Aggarwal, wife of M.K. Aggarwal – the prime accused in National Agricultural Cooperative Marketing Federation of India (NAFED) scam under the Prevention of Money Laundering Act (PMLA), 2002.
The investigation under PMLA was initiated by the Enforcement Directorate on the basis of a First Information Report (FIR) registered by the Central Bureau of Investigation (CBI).
The case was registered against M/s. M.K. International Ltd., its Director M.K. Aggarwal, Homi Rajvansh the then Additional Managing Director of NAFED and his wife Alka Rajvansh.
It was alleged that Homi Rajvansh had conspired with M/S M.K. Agri International Ltd. (MKAIL) to make wrongful gains by executing a Memorandum of Understanding (MoU) with MKAIL on behalf of NAFED.
The two conspired to import raw sugar and selling the same by entering into three High Seas Sale (HSS) agreements without charging any cost for the commodity.
Two provisional attachment orders have previously been issued in January 2014 and March 2015 worth Rs. 1.46 crore and Rs. 0.71 crore respectively.
Prosecution complaints regarding both attachment orders have been filed against the accused before the Special Court and a trial is under process.
The investigation revealed that Aggarwal transferred a part of the proceeds to his wife in 2005 and same was used to purchase immovable property. The present market value of the property is Rs. 14 crore.
Total attachments in the case stand at Rs. 16 Crore.
Further investigation is in progress. (ANI)