Money Laundering Case: Delhi HC Grants Bail To Shakti Bhog CMD Kewal Krishan Kumar

The Delhi High Court on Friday granted bail to Kewal Krishan Kumar, the chairman and managing director (CMD) of Delhi-based Shakti Bhog Foods Ltd, in a money laundering case.

In the complaint filed by the Enforcement Directorate (ED), Judge Jasmeet Singh approved Kumar’s plea for relief.

“I have held that the applicant is not unwell, but he is entitled to bail,” Judge Singh stated as he read the ruling.

On July 4, 2021, Kumar was arrested by the investigation agency. According to a press release issued by the ED at the time, the arrest was part of a search conducted at nine locations in Delhi and Haryana during which different incriminating documents and digital evidence were found.

The ED had proceeded the money laundering investigation after the CBI filed an FIR against Kumar and others for allegedly indulging in criminal conspiracy, cheating, and criminal misconduct.

The charges were that they diverted funds from loan accounts by “round tripping of funds” through connected organisations, and that funds were syphoned through dubious sales or purchases from numerous entities.

The ED claims that M/s Shakti Bhog Snacks Ltd., in collaboration with Kumar, Raman Bhuraria (Chartered Accountant), and Devki Nandan Garg, engaged in paper sale or purchase transactions without conducting any actual business transactions, resulting in false financial inflation.

Bhuraria and Garg have already been granted bail by Justice Singh.