O2 concentrator hoarding case: ED raids Navneet Kalra’s offices, home

The ED’s money laundering probe is based on the Delhi Police case in which it has been alleged that Kalra was selling oxygen concentrators, bought for ₹14,000 to ₹15,000, at an inflated price of ₹70,000 to ₹75,000

The Enforcement Directorate (ED) on Friday launched raids at the residence and offices of arrested businessman Navneet Kalra in connection with its money laundering probe into alleged hoarding and black marketing of oxygen concentrators, people familiar with the development said.

Businessman Navneet Kalra, accused in connection with the recovery and seizure of oxygen concentrators, being produced in court in New Delhi on May 17. (File photo)

The officials said about nine places were being searched in Delhi-NCR, including Kalra’s residence, office of Matrix Cellular -- a company named in the case -- and others to collect any documentary evidence available there.

Kalra is currently in judicial custody and has been trying to get bail from the high court through a battery of lawyers. The ED’s money laundering probe is based on the Delhi Police case in which it has been alleged that Kalra was selling oxygen concentrators, bought for ₹14,000 to ₹15,000, at an inflated price of ₹70,000 to ₹75,000.

The central agency has already taken relevant documents from the Delhi Police and is set to approach a court to take Kalra’s custody soon.

Kalra’s dramatic arrest from a farmhouse in Gurugram took place on Sunday even lawyers were trying to obtain an anticipatory bail for him from the Delhi high court throughout the week.

Police were searching for him since the recovery of 524 oxygen concentrators from three of his restaurants – Khan Chacha, Town Hall and Nege & Ju – and from the office of Matrix Cellular on May 7.

As part of its probe under the Prevention of Money Laundering Act (PMLA), the ED is looking into the money trail of sale and purchase of oxygen concentrators, whether the hoarded concentrators were being given to Covid-19 patients at exorbitant prices. The federal anti-money laundering probe agency has powers to attach properties if established that money made by the accused is proceeds of crime.