It was established during investigation that Anil Nutrients Limited and its Director Amol Shripal Sheth have defrauded/cheated Bank of India to the tune of Rs 47.88 Cr by diverting/siphoning of bank funds to the sister concern companies
FinTech BizNews Service
Mumbai, March 7, 2026: Directorate of Enforcement (ED), Ahmedabad Zonal Office, has filed a Prosecution Complaint against M/s Anil Nutrients Ltd and its Director including Amol Shripal Sheth and 6 other accused persons/entity, in a money laundering case, as per a press release issued by the ED.
The complaint is part of investigation involving M/s Anil Nutrients Limited in a bank fraud of Rs 47.88 Crore from Bank of India. ED initiated its money laundering investigation based on a FIR registered by the CBI, SC-I, New Delhi against M/s Anil Nutrients Limited and others for commission of offence punishable under Sections 120-B and 420 of IPC, 1860 and 13(2) r/w 13 (1)(d) of PC Act, 1988.
Further, after completion of investigation, CBI has filed a Chargesheet against Amol Shripal Sheth, MD of M/s Anil Nutrients Ltd and 07 others u/s 120-B and 420 of IPC, 1860 before the Hon’ble Court of Addl. Chief Judicial Magistrate, CBI, Ahmedabad, Gujarat.
During investigation conducted by ED, it was established that the company M/s Anil Nutrients Limited and its Director namely Amol Shripal Sheth have defrauded/cheated Bank of India to the tune of Rs 47.88 Crore by diverting/siphoning of bank funds to the sister concern companies without any genuine business transactions in pursuance of a well knitted conspiracy. By creating sham transactions, huge money was diverted to sister concerns and the turnover of the group companies was inflated. Huge loans were taken from banks with dishonest intention of causing wrongful loss to the Bank and wrongful gain to themselves, and loan amounts were diverted /siphoned off on the basis of bogus and sham transactions.
During the PMLA investigation, search operations were conducted at the premises of Amol Shripal Sheth and various others persons of Anil Group of companies and crucial evidences relating to properties not mortgaged with banks were unearthed. Further, a Provisional attachment order was also issued attaching the immovable properties worth Rs. 5.39 Crore in this case and further investigation is ongoing.
