Money laundering case: ED attaches property in Jammu

Srinagar, Nov 24: Directorate of Enforcement, Jammu has attached an immovable property worth Rs 1 Crore under the Prevention of Money Laundering Act (PMLA), 2002.
According to a statement, the provisionally attached property comprises industrial land at Panipat, Haryana of M/s Vidit Healthcare Pvt. Ltd., Sirmour, HP.
The statement reads that the ED initiated investigation in respect of case registered by NCB, Jammu, against M/s Vidit Healthcare (Managing Partner, Neeraj Bhatia) Niket Kansal and others for illegal diversion of a Codeine-based cough syrup (CBCS), “Cocrex”, for misuse as intoxicant/drug, from manufacturer, M/s Vidit Healthcare.
“ED investigation revealed that M/s Vidit Healthcare supplied CBCS to entities viz. M/s SS Industries, M/s Kansal Industries, M/s Nouveta Pharma, M/s Kansal Pharmaceuticals and N K Pharmaceuticals (all operated and controlled by Niket Kansal R/o Delhi) during 2018-24, to the tune of about Rs. 16.74 Crore,” it reads.
It added that part of such illegally diverted CBCS was supplied to Raees Ahmed Bhat R/o Srinagar, from whom large quantities of CBCS was seized on 14.01.2024 by NCB.
“ED investigation further revealed that M/s Vidit Healthcare earned gross profit estimated to be Rs. 2.92 Crore (approx.) as Proceeds of Crime from the sale of codeine-based cough syrup (CBCS) to entities operated by Niket Kansal viz. M/s S S Industries, M/s Kansal Industries, M/s Nouveta Pharma, M/s Kansal Pharmaceuticals and N K Pharmaceuticals”.
It reads that earlier in this case, ED has conducted search at the premises of Neeraj Bhatia and Niket Kansal on 13.02.2025, resulting in seizure of cash amounting to Rs 32 Lakh and jewellery valued at Rs 1.61 Crore from the residential premises of Neeraj Bhatia.
“In furtherance of investigations, ED has further attached immovable property in the form of land at Panipat of M/s Vidit Healthcare, worth Rupees one Crore approx. Further investigation is under progress,” it said. (KNO)