Rs 1.61 cr worth jewellery, Rs 40 lakh cash seized
Excelsior Correspondent
JAMMU, Feb 17: The Enforcement Directorate (ED), Jammu Sub Zonal Office has conducted search operations under the provisions of the Prevention of Money Laundering Act (PMLA) at multiple locations in Jammu and Kashmir, Delhi, Haryana and Himachal Pradesh in the case of Raees Ahmed Bhat and Others in respect of various persons/entities indulging in the operation of unauthorized sales and diversions of Codeine Based Cough Syrup (CBCS) and associated illicit monetary gains, in the form of proceeds of crime.
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The ED initiated investigations on the basis of FIR registered by the Narcotics Control Bureau (NCB) Jammu, wherein Bhat was found involved in trafficking of CBCS, widely misused as intoxicant by drug addicts. CBCS brand named, “Cocrex”, from manufacturer, M/s Vidit Healthcare, Sirmaur, Himachal Pradesh (Managing partner, Neeraj Bhatia R/o Panipat, Haryana) was found procured, unauthorizedly diverted and sold via shell entities viz. M/s S S Industries, Faridabad (Owner Sumesh Sareen R/o Faridabad), and N.K Pharmaceuticals, Kansal Pharmaceuticals, Kansal Industries and Ors. controlled by Niket Kansal and his family members R/o Delhi with his accomplice, Garv Bhambhari R/o Faridabad.
The agency claimed its probe found that between 2018-24, Kansal Industries, Kansal Pharmaceuticals, N K Pharmaceuticals, Nouveta Pharma and S S Industry were procuring the cough syrup from Vidit Healthcare and distributed them in an “unauthorised” manner.
“The licenses of many of such entities were cancelled by drug controlling authorities. Between 2019-25, around 55 lakh bottles of CBCS were procured by N K Pharmaceuticals and other such entities against payment of more than Rs 20 crore to Vidit Healthcare.
“The same were suspected to have been diverted in the open market, generating huge amounts of proceeds of crime, with major part as cash deposits and other related bank transactions, into such entities,” the ED said.
The accused individuals and the companies could not be immediately contacted for their response to these charges made against them by the ED.
The agency said “unexplained” cash of Rs 40.62 lakh, jewellery worth Rs 1.61 crore and documentary and digital “evidence” were seized during the searches.
Two accused — Garv Bhambhari and Mamta Kansal (mother of Niket Kansal) — who are “absconding” in the NCB case were also traced and the information was shared with the anti-narcotics agency, it said.
These categories of cough syrups, including one with the brand name Phensedyl, are seized in huge numbers by the Border Security Force (BSF) and other agencies while they are being smuggled to Bangladesh from India.
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