ED convicts ex-NALCO CMD in money laundering case

New Delhi

The Enforcement Directorate (ED) has secured a conviction in a high-profile money laundering case involving Abhay Kumar Srivastava, former CMD of NALCO, his wife Chandni Srivastava, and Bhushan Lal Bajaj and his wife Anita Bajaj. The Special Judge for CBI cases at Rouse Avenue Court in Delhi pronounced the verdict under the Prevention of Money Laundering Act (PMLA), 2002.

The case began with a 2011 CBI FIR that alleged Srivastava received bribes through Bajaj in exchange for awarding coal supply contracts. Chandni Srivastava was found to have used fake documents and forged Anita Bajaj’s signature to open a bank locker, where gold bars and cash were recovered.

The ED attached assets worth ₹2.23 crore and proved that the bribe money was laundered and hidden. The court accepted the ED’s case, recognizing the use of forged documents and benami accounts to hide illicit wealth.