Did J&K ED Attach a Property Worth Rs 1 Crore in a Money Laundering Case?
Click to start listening
Synopsis
In a significant development, the Enforcement Directorate in Jammu and Kashmir has provisionally attached assets worth Rs 1 crore linked to a money laundering case involving illegal diversion of a codeine-based cough syrup. This investigation reveals a complex web of illegal activities and financial gains, showcasing the ongoing battle against drug abuse and financial crimes.
Key Takeaways
- ED attaches property worth Rs 1 crore.
- Investigation under PMLA focuses on illegal diversion of cough syrup.
- Multiple entities involved in the supply chain.
- Significant financial gains linked to the case.
- Ongoing investigation aims to ensure accountability.
Jammu, Nov 24 (NationPress) The Jammu Sub-Zonal Office of the Enforcement Directorate (ED) in Jammu and Kashmir announced on Monday that it has provisionally attached immovable assets valued at approximately Rs 1 crore under the Prevention of Money Laundering Act (PMLA), 2002.
According to a press release from the ED, "The Jammu Sub-Zonal Office of the Enforcement Directorate has provisionally attached immovable property estimated to be around Rs 1 crore in compliance with the Prevention of Money Laundering Act (PMLA), 2002."
"The attached property includes industrial land located in Panipat, Haryana, owned by M/s Vidit Healthcare Private Ltd., based in Sirmour, Himachal Pradesh. This action follows an investigation initiated by the Jammu NCB against M/s Vidit Healthcare, with key individuals like Neeraj Bhatia and Niket Kansal involved for the illegal diversion of a codeine-based cough syrup (CBCS), 'Cocrex', for misuse as an intoxicant/drug from the manufacturer," the statement elaborated.
"The investigation by the ED uncovered that M/s Vidit Healthcare supplied CBCS to various entities such as M/s S.S. Industries, M/s Kansal Industries, M/s Nouveta Pharma, M/s Kansal Pharmaceuticals, and N.K Pharmaceuticals (controlled by Niket Kansal from Delhi) from 2018 to 2024, amounting to approximately Rs 16.74 crore. A portion of this illegally diverted CBCS was provided to Raees Ahmed Bhat, a resident of Srinagar, from whom large quantities of CBCS were confiscated on January 14, 2024 by NCB.
"Further investigations have indicated that M/s Vidit Healthcare accrued a gross profit of about Rs 2.92 crore as proceeds of crime from the sale of CBCS to the entities managed by Niket Kansal. Earlier in this case, the ED conducted searches at the residences of Neeraj Bhatia and Niket Kansal on February 13, 2025, leading to the recovery of cash totaling Rs 32 lakh and jewelry valued at Rs 1.61 crore. Subsequently, the ED has attached additional immovable property in the form of land in Panipat belonging to M/s Vidit Healthcare, with an estimated value of nearly Rs 1 crore.
"The investigation is ongoing," the statement concluded.
Point of View
This case underscores the relentless efforts by law enforcement agencies in combating financial crimes and drug-related issues. The involvement of multiple entities and significant financial transactions raises concerns about regulatory oversight. As the investigation progresses, it is crucial to maintain transparency and ensure accountability for all parties involved.
NationPress
24/11/2025
Frequently Asked Questions
What is the value of the property attached by the ED?
The Enforcement Directorate has provisionally attached immovable property valued at approximately Rs 1 crore.
Under which act was the property attached?
The property was attached under the Prevention of Money Laundering Act (PMLA), 2002.
What is the connection between Vidit Healthcare and the investigation?
The investigation concerns illegal diversion of a codeine-based cough syrup by M/s Vidit Healthcare to various entities.
What actions have been taken in relation to this case?
The ED has attached property, conducted searches, and seized cash and jewelry from key individuals associated with the case.
Is the investigation ongoing?
Yes, the investigation is continuing as authorities seek to uncover further details related to the case.
