On July 4, 2021, the Enforcement Directorate, arrested the Chairman and Managing Director of M/s Shakti Bhog Foods Limited, Kewal Krishan Kumar from Delhi. The arrest took place after the CBI filed an FIR against Kumar for criminal conspiracy, cheating, and criminal misconduct.
Kewal Krishan has been accused of diverting funds from loan accounts by round-tripping of funds through related entities. “Withdrawing of funds was being done by way of suspicious sale and purchase from various entities,” the officials added. He has been arrested under the provisions of the Prevention of Money Laundering Act, 2002.
Immediately after his arrest, Kumar was produced in the court where the court has granted the custody to ED till July 9, 2021. “The Hon’ble Court noted that in the considered opinion of the Court remand of the accused was necessary and justified for a fair and complete investigation of the matter” an official statement read.
Sources revealed that the officials carried out raids at 9 premises located in both Delhi and Haryana. The officials managed to get hold of certain incriminating documents and digital evidences during the search operations.