Patna: The Enforcement Directorate (ED), Patna, has provisionally attached immovable properties worth Rs 1.09 crore belonging to a Sheikhpura-based rice mill firm and its associates in a money laundering case linked to the alleged diversion of custom milled rice (CMR) meant for the Bihar govt.The properties were attached under the Prevention of Money Laundering Act (PMLA), 2002. The action pertains to M/s Arena Food and Agro Industries Pvt Ltd, Sheikhpura, its director Shreekrishan Kumar, Shobha Kumari, wife of Radhey Sharma, and their sons Kanhaiya Kumar and Kuber Kashyap.According to the ED, the investigation was initiated on the basis of an FIR registered against Radhey Sharma, a director of the company, under various sections of the IPC. The case relates to paddy procured from the Bihar State Food Corporation (BSFC) during 2012-13.The company had procured 63,092.45 quintals of paddy and was required to return 67% of it as CMR, or 42,271.94 quintals, by Dec 30, 2013. However, it allegedly supplied only 19,170 quintals, leaving 23,101.94 quintals undelivered.The ED alleged that the shortfall caused a loss of around Rs 5 crore to the state exchequer. According to the agency, the company later paid Rs 1.21 crore to the BSFC, but around Rs 3.79 crore remains outstanding and has been treated as proceeds of crime.The agency said the undelivered CMR was allegedly sold in the open market and the proceeds were not returned to the Bihar govt despite the registration of an FIR and repeated reminders by the BSFC.According to the ED, the proceeds generated through the alleged criminal activity were used in business operations and subsequently dissipated. The agency also alleged that funds from the company’s bank accounts were transferred to accounts belonging to its director and his family members.
