ED files chargesheet against six KVIC employees for siphoning off Rs 3.89 crore funds

Ranchi — The Directorate of Enforcement (ED), Ranchi Zonal Office, has filed a chargesheet under the Prevention of Money Laundering Act, 2002 against six individuals in connection with the alleged misappropriation of funds at the Khadi and Village Industries Commission (KVIC) State Office in Ranchi.

The prosecution complaint, filed on March 24 before a special court, names Sunil Kumar (then Executive, KVIC Ranchi), Aman Kumar, Shahil, Priya, Binod Kumar Baitha (then Senior Executive, Administration and HR, KVIC Ranchi), and Banku Nishad as accused.

The investigation began after an FIR and chargesheet were registered by the Central Bureau of Investigation’s Anti-Corruption Branch in Ranchi. The alleged offences include criminal conspiracy, cheating, forgery and misconduct under the IPC and the Prevention of Corruption Act.

According to the ED, Sunil Kumar allegedly conspired with relatives and other co-accused to create fictitious entities, including a shell company using a forged Corporate Identification Number. Funds amounting to about Rs 3.89 crore, sanctioned under the Khadi Reform and Development Programme, were allegedly diverted into personal bank accounts without any actual work being executed.

Investigators said the co-accused relatives handed over banking credentials and signed blank cheques, enabling layering of the proceeds through multiple proxy accounts. The money was later used to purchase immovable assets in the name of Sunil Kumar’s wife in Ormanjhi, Ranchi, with the sale value allegedly undervalued in official documents. 

During the probe, the ED conducted searches in March 2025 at Sunil Kumar’s residence under provisions of the PMLA. The agency provisionally attached movable and immovable assets worth Rs 71.91 lakh, which were later confirmed by the adjudicating authority.

Additionally, Rs 31.11 lakh transferred to Ashram Kalyan Nidhi Nyas Trust in Ranchi — allegedly from the proceeds of crime — was voluntarily returned by the trust and deposited with the ED, officials said.

With inputs from IANS