The ED has arrested two company executives linked to liquor trade in the money laundering investigation being conducted by it into the now-scrapped Delhi Excise policy case, official sources said on Thursday, November 10. Benoy Babu of Pernod Ricard from Andhra Pradesh, and Sarath Chandra Reddy of Hyderabad-based Aurobindo Pharma have been arrested under sections of the Prevention of Money Laundering Act (PMLA), they said. The Enforcement Directorate (ED) has conducted multiple raids in this case so far.
"He is a graduate of Business Administration. He is a second-generation entrepreneur and belongs to the promoter group. He has gained experience in general management and expertise in project executions," reads Sarath Reddy's profile on the Aurobindo website. Sarath Chandra Reddy is also the director of Trident Life Sciences. The Central Bureau of Investigation (CBI) included Trident Life Sciences as the fifth accused in the case.
The ED had reportedly questioned Sarath Reddy in connection with the money laundering allegations in Delhi on September 21, 22 and 23. Sarath Reddy is the second businessman from Hyderabad arrested in the case. Last month, the CBI had arrested Boinpally Abhishek Rao in connection with the case. Abhishek is associated with several companies and is the director of Anoos Electrolysis & Obesity Pvt Ltd. He is also associated with Anoos Health & Wellness Pvt Ltd, Robin Distribution LLP, Agasti Ventures, SS Mines & Minerals, Master Sand LLP, Neoverse Realty Pvt Ltd, Zeus Networking Pvt Ltd and Valuecare Esthetics Pvt Ltd.
Abhishek was the second person to be arrested in the excise policy case. The CBI had earlier arrested Vijay Nair, former CEO of events company Only Much Louder. In September, ED arrested Sameer Mahandru, managing director of a liquor manufacturing company Indospirit. The agency early this month raided the premises of a Personal Assistant of Delhi Deputy chief minister Manish Sisodia and later questioned him at its office in Delhi. The money laundering case stems from a CBI FIR that had named Sisodia as an accused among others. The CBI had raided the premises of the Deputy Chief Minister and some Delhi government bureaucrats after filing the case.
The excise scheme came under the scanner after the Delhi Lieutenant Governor (LG) recommended a CBI probe into the alleged irregularities in the implementation of Delhi's Excise Policy 2021-22. The LG had also suspended 11 excise officials.
With PTI and IANS inputs