The Enforcement Directorate (ED) has arrested an accused in connection with the alleged import of fertilisers and raw materials at inflated rates from 2007 to 2014.
The accused has been identified as Sanjay Jain. The agency has taken his custody till October 11 for recording his statement. He was allegedly instrumental in channelling the proceeds of crime from overseas to India.
The ED probe is based on a first information report registered by the Central Bureau of Investigation (CBI) in April 2021. Among the accused are U.S. Awasthi, managing director and chief executive officer of Indian Farmers Fertiliser Cooperative Limited (IFFCO); Pravinder Singh Gahlaut, managing director of Indian Potash Limited; Sanjay Jain, brother of Pankaj Jain, president of Jyoti Trading Corporation and beneficial owner of the other Jyoti Group entities.
