NEW DELHI: The Enforcement Directorate (ED) conducted raids on Monday at several locations across Madhya Pradesh, investigating alleged financial irregularities worth around Rs 50 crore in the liquor industry between fiscal years 2015-16 and 2017-18.
Officials confirmed searches at 11 sites owned by various liquor contractors in Bhopal, Indore and Mandsaur under the Prevention of Money Laundering Act (PMLA).
The investigation originated from a state police FIR against liquor contractors who allegedly caused government losses amounting to Rs. 49,42,45,615.
The accused reportedly engaged in forging and manipulating treasury challans, whilst improperly obtaining a No Objection Certificate (NOC) for liquor procurement during the financial years 2015-16 to 2017-18.
According to the ED's findings, the implicated liquor contractors allegedly submitted bank challans for minimal amounts.
In the prescribed format of the challan, "Rs. in figures" and "Rs. in words" were written. The value was filled in figures, however, blank space was left after "Rs. in words", they said
The officials explained that following the payment, depositors would subsequently fill in the empty space by writing inflated figures in lakhs or thousands.
These modified challan duplicates would then be presented either at the designated country liquor storage facility or at the district excise department office for foreign liquor transactions.
Officials confirmed searches at 11 sites owned by various liquor contractors in Bhopal, Indore and Mandsaur under the Prevention of Money Laundering Act (PMLA).
The investigation originated from a state police FIR against liquor contractors who allegedly caused government losses amounting to Rs. 49,42,45,615.
The accused reportedly engaged in forging and manipulating treasury challans, whilst improperly obtaining a No Objection Certificate (NOC) for liquor procurement during the financial years 2015-16 to 2017-18.
According to the ED's findings, the implicated liquor contractors allegedly submitted bank challans for minimal amounts.
In the prescribed format of the challan, "Rs. in figures" and "Rs. in words" were written. The value was filled in figures, however, blank space was left after "Rs. in words", they said
The officials explained that following the payment, depositors would subsequently fill in the empty space by writing inflated figures in lakhs or thousands.
These modified challan duplicates would then be presented either at the designated country liquor storage facility or at the district excise department office for foreign liquor transactions.
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