In a first, the Enforcement Directorate (ED) has filed a charge sheet against the Rajasthan-based Agribiotech Industries Limited and its top officials in connection with the alleged excess production of extra natural alcohol and rectified spirit in violation of environmental laws.
The money laundering case against Agribiotech Industries (Sikar) and its Managing Directors Girdhar Gopal Bajoria and Ashutosh Bajoria is based on two criminal complaints filed by the Rajasthan State Pollution Control Board for alleged violation of the Water (Prevention and Control of Pollution) Act and the Environment (Protection) Act.
Agribiotech Industries had permission for producing extra natural alcohol and rectified spirit of 45,000 litres per day. However, as alleged, it was producing more than 65,000 litres per day, thus resorting to illegal excess production of 1.38 crore litres from December 2007 to July 2012.
“The company generated illegitimate profit of ₹8.30 crore over the period. Investigation revealed that the company was also not maintaining any Effluent Treatment Plant mechanism as envisaged under the Board guidelines, thereby resulting in an illegitimate gain of ₹8,20,285,” said the agency.
Accordingly, proceeds of crime amounting to ₹8.38 crore, in the form of an immovable property in the RIICO Industrial Area of Sikar, was attached. The attachment order was confirmed by the Adjudicating Authority under the Prevention of Money Laundering Act.
Besides filing the charge sheet, the agency has requested the court for permission to confiscate the attached asset.
