The ED sources said the POC was generated through credit notes, hawala channel and direct kickbacks
The Enforcement Directorate’s (ED) ongoing probe into the 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.
The ED sources said the POC was generated through credit notes, hawala channel and direct kickbacks.
This latest allegation has been mentioned in the charge sheet.
The ED further alleged that Sisodia facilitated the formation a special purpose vehicle to created 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 proft 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, 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.
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They said the ED further learned that the South Group infused excess cash Rs 41.13 crore into the account of entities belonging to Sarath Reddy. It was nothing but an illegal way to recouping 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 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 bribe of Rs 4.9 crore given by Aman Dhall through an excess credit note, which it nothing but POC.
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“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 their fifth chargesheet in the coming days.
