Kolkata, Nov 7 (SocialNews.XYZ) The Enforcement Directorate (ED) has so far recovered cash worth Rs 18.20 crore in connection with the multi-crore ration distribution case in West Bengal, sources informed on Tuesday.
The maximum recovery has been from the two corporate entities based out of Bankura. namely AJ Agrotech and AJ Royal, where the total seized amount has been Rs 16.80 crore. The recovery was made through a massive raid and search operation conducted early this month, sources said.
At the same time, the ED sleuths have recovered Rs 1.40 crore of unaccounted cash from the office of a packaged flour production and marketing entity Ankit India Limited. This corporate entity connects the ration distribution case in West Bengal with the ill-famous Bihar fodder scam.
One of the directors of the said corporate entity, namely Dipesh Chandak was arrested by the Central Bureau of Investigation (CBI) in 1996 in connection with the fodder scam in Bihar. However, he turned approver at a later stage and also got released.
ED sleuths believe that this is just the tip of the iceberg and in the coming days more such unaccounted cash are bound to surface. Some crucial diaries and notebooks containing details of payments made in the ration distribution case have already been accessed by the central agency sleuths.
Sources said that the future recoveries will be made on the basis of the information scripted in these diaries and notebook.
Sources said that ED sleuths have got specific clues that fund diversions made in cash in the ration distribution case are of higher amounts than similar diversions through use of shell companies.
The central agency sleuths have tracked several payments as investments in certain businesses as well as some deposits in certain banks, the majority of which were made in cash.
The ED sleuths have now started investigating whether Standard Operating Procedures in case of cash deposits were followed by the banks, especially in regards to registering the PAN of the depositor in case the one-time cash deposit exceeded Rs 49,999, sources said.
Sources added that even in the case of deposits under Rs 50,000, the ED sleuths are trying to track the frequency with which such deposits were made. The central agency sleuths are also trying to find the source of funds in case of cash payments made in certain businesses.