Manish Sisodia Generated Rs 622.67 cr POC in Excise Policy Scam: ED
New Delhi: The Enforcement Directorate’s (ED) ongoing probe into Delhi’s Excise Policy scam has revealed that former Deputy Chief Minister Manish Sisodia had allegedly generated Rs 622.67 crore Proceeds of Crime (POC) through different modus operandi, sources said.
This latest allegation has been mentioned in the charge sheet.
The ED further alleged that Sisodia facilitated the formation of a special-purpose vehicle to create a recoupment apparatus.
“Rs 100 crore kickbacks were paid by the South Group to Vijay Nair. Indospirits acquired an L1 License with the help of Sisodia and Nair, it made a profit of Rs 192.8 crore which is POC. The outstanding payments of three entities controlled by Sarath Reddy, Trident Chemphar, Avantika Contractors, and Organomix Ecosystems towards Indospirits is Rs 60 crore. This outstanding payment is POC. Excess Credit Notes of Rs 4.35 crore were issued by Indospirits, profits of Rs 163.5 crore were accrued by Pernod Ricard, and this firm formed a super cartel with the South Group and further accrued a profit of Rs 45.77 crore, these are all deemed as POC,” the sources said.
They said the ED further learned that the South Group infused excess cash of Rs 41.13 crore into the account of entities belonging to Sarath Reddy. It was nothing but an illegal way to recoup the kickbacks.
When questioned, the finance team failed to provide any satisfactory reason to the ED.
The ED has alleged that apart from this through misuse of the Punjab government’s machinery and arm-twisting Mahadev Liquors, two firms — Shiv Associates and Diwan Spirits — accrued a profit of Rs 8.02 crore, accused Amit Arora paid a bribe of Rs 2 crore to Sisodia through Dinesh Arora and a bribe of Rs 4.9 crore given by Aman Dhall through an excess credit note, which it nothing but POC.
“If we add up all the POC, it will turn out to be 622.67 crore. We have termed the whole amount as POC,” said the sources.
The ED after thoroughly probing the matter they have filed a watertight chargesheet. The ED is also likely to file its fifth chargesheet in the coming days.
Next Story:
-
Strong Monitoring Of Election Topics On Social Media
![Strong Monitoring Of Election Topics On Social Media]()
Hyderabad, May 01: The Media Certification and Monitoring Committee (MCMC) center set up in the office of the Chief PRO in the district election officer’s office in celebration of the parliamentary elections was inspected by Senthil Kumar, the expenditure inspectors of the Hyderabad parliamentary constituency on Wednesday.
-
Advisory Issued Amid Ongoing Heatwave; Hyderabad To Cross Max Temperature
![Advisory Issued Amid Ongoing Heatwave; Hyderabad To Cross Max Temperature]()
Hyderabad, May 1 (Maxim News): Amid Heatwave alert (yellow) has been issued for the state by Indian meteorological Dept-Hyderabad (IMD-H) as 18 districts in Telangana likely to witness heatwave conditions with temperatures soaring to a maximum of 44 degrees Celsius the Director of Public Health & Family Welfare, Dr. B.Ravinder Nayak, has issued the advisory…
-
Two Aveksha Day Care Centers for Construction Workers’ Children Opened
![Two Aveksha Day Care Centers for Construction Workers’ Children Opened]()
Two Aveksha Day Care Centers for Construction Workers’ Children opened on the occasion of Labour Day on Wednesday. One was opened at My Home Apas Residential Project at Kokapet Village, Gandipet Mandal, Ranga Reddy District. The other one was at MHC Vipina Residential at Manmole Village, Ramchandrapuram, Sangareddy Dist
-
Next WCOA Conference Will Be Hosted in Hyderabad in 2028
![Next WCOA Conference Will Be Hosted in Hyderabad in 2028]()
Dr Raja Narisgh Rao, the city’s Senior Consultant Anaesthesiologist and the President of the Indian Association of Paediatric Anaesthesiologists (IAPA), Telangana State is elected as President of the World Congress of Ophthalmic Anaesthesia at a just-concluded WCOA – World Congress of Ophthalmic Anaesthesia at São Paulo in Brazil.
-
Will Fight To Defeat BJP Conspiracy: Will Implement Muslim Reservation: Revanth Reddy
![Will Fight To Defeat BJP Conspiracy: Will Implement Muslim Reservation: Revanth Reddy]()
Hyderabad, May 1 (Maxim News): Chief Minister Revanth Reddy advocated that the Muslim Reservation is not based on caste or religion but on the basis of backwardness. He said that Congress party is committed for the implementation of Muslim Reservation for which survey will be conducted in the Congress ruled states and reservation will be provided.…
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page and Twitter and Instagram. For all the latest Hyderabad News updates
