ED Attaches Property Worth ₹3 Crore Of JGFPL Jayshri Gayatri Food Products

Bhopal (Madhya Pradesh): The Directorate of Enforcement (ED), Bhopal, has provisionally attached movable and immovable properties valued at Rs 3 crore under the Prevention of Money Laundering Act (PMLA) in an ongoing money laundering investigation relating to M/s Jayshri Gayatri Food Products Pvt. Ltd. (JGFPL) and others, officials said on Tuesday.

The attached properties comprise a residential house, plots and bank balances held in the names of Sunil Kumar Tripathi, his family members and entities controlled by them.

The ED initiated the investigation based on FIRs registered at Habibganj police station, Bhopal, and the Economic Offences Wing (EOW), Bhopal, under various sections of the Indian Penal Code relating to criminal conspiracy, cheating, forgery and use of forged documents against the directors, officials and other persons associated with the company.

The investigation revealed that M/s JGFPL was engaged in the manufacturing and export of adulterated dairy products by using forged laboratory reports to obtain export clearances.

Tripathi, the then CEO of M/s JGFPL, played a key role in the preparation and use of such forged reports in connivance with others. These forged reports were subsequently used to obtain health certificates, based on which exports were made.

The investigation further revealed that Tripathi was involved in the diversion and misappropriation of dairy products from the company's stocks.

The diverted products were sold through entities controlled by him, including M/s Siyajeet Exports and M/s Sugam Foods, among others, using fictitious invoices and bills.

The proceeds generated from such sales were routed through multiple entities and layered through a chain of unrelated entities by means of fictitious transactions to conceal their origin.

Earlier, the ED arrested Kishan Modi, Managing Director, and Sunil Kumar Tripathi, former CEO of the company.

Both accused are presently in judicial custody and a prosecution complaint has already been filed before the Special Court (PMLA).

Further investigation is underway to identify additional proceeds of crime, trace the money trail and ascertain the involvement of other persons and entities connected with the offence of money laundering.

ED attaches property of ₹3 Cr of Jayshri Gayatri Food Products

Directorate of Enforcement (ED), Bhopal has provisionally attached movable and immovable properties valued at Rs 3 Crore under the PMLA, in an ongoing money laundering investigation relating to M/s Jayshri Gayatri Food Products Pvt. Ltd. (JGFPL) and others, said officials on Tuesday.

The attached properties comprise a residential house, plots and bank balance held in the names of Sunil Kumar Tripathi, his family members and entities controlled by them.

ED initiated investigation based on FIRs registered at Police Station Habibganj, Bhopal and Economic Offences Wing (EOW), Bhopal under various Sections Indian Penal Code, relating to criminal conspiracy, cheating, forgery and use of forged documents against the Directors, officials and other persons associated with company.

Investigation revealed that M/s JGFPL was engaged in the manufacturing and export of adulterated dairy products by using forged laboratory reports to obtain export clearances.

Tripathi, the then CEO of M/s JGFPL, played a key role in the preparation and use of such forged reports in connivance with others. These forged reports were subsequently used for obtaining Health Certificates, based on which exports were made.

Investigation further revealed that Tripathi was involved in diversion and misappropriation of dairy products from the stocks of the company.

The diverted products were sold through entities controlled by him including M/s Siyajeet Exports, M/s Sugam Foods & others using fictitious invoices and bills.

The proceeds generated from such sales were routed through multiple entities and layered through a chain of unrelated entities by means of fictitious transactions to conceal their origin.

Earlier, ED has arrested Kishan Modi, Managing Director and Sunil Kumar Tripathi, former CEO of the company,

Both accused are presently in judicial custody and a Prosecution Complaint has already been filed before the Special Court (PMLA).

Further investigation is underway to identify additional Proceeds of Crime, trace the money trail, and ascertain the involvement of other persons and entities connected with the offence of money laundering.