New Delhi, February 6
Directorate of Enforcement (ED), Mumbai has attached properties valued at Rs. 26.30 Crore acquired by formed employees of HUF India Pvt Ltd a wholly owned subsidiary of German based company -HUF Halswerk & Furst GMBH & Co. KG.
The attached properties comprised of 24 immovable properties which were in the name of 02 ex-employees of M/s HUF India Pvt. Ltd. namely Sunil Kumar Garg (ex-MD), Nikhil Agarwal (ex-Finance Head), their family members, firms, officials informed.
ED initiated investigations on the basis of FIR registered by Chakan Police Station based on the complaint filed by Sandeep Jagdish Choudhary, Managing Director, HUF India Pvt Ltd against ex- employees for cheating and defrauding the company to the tune of Rs.139 Crore. After completion of investigation, Police authorities had filed chargesheet under Sections 420, 406, 409, 467, 468, 471 and 34 of IPC, 1860.
ED investigation revealed that during the years 2010 to 2020, ex-employees of M/s HUF India Pvt. Ltd. had in connivance with each other had duped M/s HUF India Pvt. Ltd. by manipulating and misusing Purchase Orders, creating false invoices, using M/s HUF fake stamp to generate Goods
The ED stated stated that the Receipts Notes (GRNs) and released the funds to vendors without receiving any goods/services. Further, vendors had transferred the funds back to the bank accounts of Sunil Kumar Garg, Nikhil Agarwal and their family members & firms in the guise of consultancy services even though no such services were provided. Further, Sunil Kumar Garg, Nikhil Agarwal had received commission amounts from various vendors of M/s HUF India Pvt Ltd. by threatening them that their services will be discontinued if the commission amounts were not paid. The accused persons siphoned off the funds into their bank accounts, accounts of their family members as well as accounts of the dummy firms created by them and used the siphoned POC to acquire movable and immovable properties in the name of Sunil Kumar Garg, Nikhil Agarwal and their family members & firms.
Earlier, ED conducted searches under PMLA, 2002 at the premises of the accused persons & vendors, during which bank accounts, FDs, shares & investment in mutual funds to the tune of Rs 10.15 crore were frozen.
