80 liquor vends the place Ludhiana’s ‘drug lord’ Akshay Chabbra invested crores sealed by NBC
Ruchika M Khanna
Chandigarh, January 20
Round 80 liquor vends of two teams in Ludhiana—where the alleged drug lord, Akshay Chabbra, has invested money—have been sealed on Friday by the Narcotics Management Bureau.
The Tribune has reported in its information columns how Chabbra, arrested by Narcotics Management Bureau final 12 months, has invested crores of rupees in liquor enterprise. He had tied up with three different liquor contractors to speculate his cash within the two liquor teams in Ludhiana.
The NCB, investigating the cash path on this sensational drug case, had sought particulars of the cash diverted by Chabbra into the liquor enterprise, from the Punjab Excise division. Being the “proceeds of crime”, the central company needed the cash given by Chabbra and his associates to be returned by the state Excise division. The latter, nevertheless, has expressed helplessness, saying the cash was deposited within the state authorities treasury.
Extremely positioned sources within the authorities have instructed The Tribune that the excise division has already initiated an inquiry into the extent of involvement of Chabbra within the liquor enterprise.
“Up to now, we’ve discovered that he invested in two teams (group is a single licencing unit), after we had been approached by the NCB,” confirmed a senior officer within the division, including that, they’re additionally taking a look at different deeds signed with contractors for the 36 teams in Ludhiana Vary (together with 25 liquor vend teams that fall in Ludhiana metropolis).
It’s learnt that Chabbra had a 25 per cent stake in two teams of liquor vends – the Fortis Group and the Gill Highway Group. The whole income promised by A S Firm, the place Chabbra was a accomplice, was Rs 74 crore for the continued fiscal.
“The corporate had deposited Rs 3.50 crore in money in June, when the liquor vends had been allotted to them. Until November, they haven’t defaulted on making their month-to-month cost of licence payment,” stated a senior officer.
Akshay Chabbra has been accused by NCB of working a global drug syndicate. It’s now alleged that he was utilizing his facet companies, together with his liquor enterprise for cash laundering. He would get uncooked heroin and different medication after which use these to fabricate artificial medication. He had a meteoric rise after he grew to become the kingpin of the drug cartel, the NCB has alleged.