{"id":1601,"date":"2025-11-19T13:03:41","date_gmt":"2025-11-19T07:33:41","guid":{"rendered":"https:\/\/undercovereditor.com\/?p=1601"},"modified":"2025-11-19T13:08:49","modified_gmt":"2025-11-19T07:38:49","slug":"mumbai-ed-arrests-malad-businessman-ushik-gala-in-%e2%82%b9998-crore-need-to-feed-money-laundering-case","status":"publish","type":"post","link":"https:\/\/undercovereditor.com\/hi\/mumbai-ed-arrests-malad-businessman-ushik-gala-in-%e2%82%b9998-crore-need-to-feed-money-laundering-case\/","title":{"rendered":"Mumbai: ED Arrests Malad Businessman Ushik Gala in \u20b9998 Crore \u2018Need to Feed\u2019 Money Laundering Case"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"1601\" class=\"elementor elementor-1601\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9a35850 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no e-con e-parent\" data-id=\"9a35850\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c268f2f elementor-widget elementor-widget-heading\" data-id=\"c268f2f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Mumbai: ED Arrests Malad Businessman Ushik Gala in \u20b9998 Crore \u2018Need to Feed\u2019 Money Laundering Case<\/h1>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5f4ab68 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no e-con e-parent\" data-id=\"5f4ab68\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5bb8303 elementor-widget elementor-widget-image\" data-id=\"5bb8303\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/undercovereditor.com\/wp-content\/uploads\/2025\/11\/money-counting-image-600x400.jpg\" class=\"attachment-digital-newspaper-list size-digital-newspaper-list wp-image-1603\" alt=\"Mumbai: ED Arrests Malad Businessman Ushik Gala in \u20b9998 Crore \u2018Need to Feed\u2019 Money Laundering Case\" srcset=\"https:\/\/undercovereditor.com\/wp-content\/uploads\/2025\/11\/money-counting-image-600x400.jpg 600w, https:\/\/undercovereditor.com\/wp-content\/uploads\/2025\/11\/money-counting-image-300x200.jpg 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7ccd29fa e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no e-con e-parent\" data-id=\"7ccd29fa\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-412dc113 elementor-widget elementor-widget-text-editor\" data-id=\"412dc113\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><\/p>\n<h3><b>Undercover Editor News | Mumbai<\/b><\/h3>\n<p><\/p>\n<p>In a major crackdown on financial fraud linked to a Haryana government welfare programme, the Enforcement Directorate (ED) on Tuesday arrested Malad-based businessman Ushik Gala, associated with Suumaya Industries, for allegedly laundering \u20b9998 crore under the \u2018Need to Feed\u2019 scheme. Investigators say the massive fund diversion was masked through fake agricultural transactions, shell companies and circular layering of money.<\/p>\n<p><\/p>\n<p>Gala, who is also facing allegations in a \u20b9117 crore investor cheating case, has been remanded to ED custody till November 24 by the court.<\/p>\n<p><\/p>\n<p><strong>Complaint Triggered ED Action<\/strong><\/p>\n<p><\/p>\n<p>According to ED prosecutor Arvind Aghav, Gala\u2019s arrest stems from a money-laundering case based on a cheating FIR filed at Worli Police Station by investor Vinay Kumar Agrawal.<\/p>\n<p><\/p>\n<p>Agrawal alleged that Suumaya Industries lured him into investing by showcasing a fictitious PPE and CSR contract worth \u20b97,000 crore, supposedly sanctioned under Haryana\u2019s \u2018Need to Feed\u2019 programme through Dentsu Communications India Pvt Ltd.<\/p>\n<p><\/p>\n<p>Based on these \u201cassurances\u201d and what investigators describe as a \u201cfabricated financial picture,\u201d Agrawal invested heavily and later suffered losses amounting to \u20b9117 crore.<\/p>\n<p><\/p>\n<p><strong>How the Alleged Laundering Worked<\/strong><\/p>\n<p><\/p>\n<p>The ED investigation has uncovered a large-scale, complex financial web:<\/p>\n<p><\/p>\n<p><strong>1. Creation of a Special Company<\/strong><\/p>\n<p><\/p>\n<p>Capalpha Trade Pvt Ltd (CTPL) was incorporated in February 2021, allegedly with the sole purpose of financing the \u2018Need to Feed\u2019 project.<\/p>\n<p><\/p>\n<p><strong>2. Funds Passed Through Suumaya Group<\/strong><\/p>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\"><\/ul>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Money received by CTPL was routed to Suumaya group firms.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li><strong>Suumaya Agro Ltd <\/strong>then diverted funds using:<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Fake agro purchases from dummy firms<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Share purchases<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Property acquisitions via companies linked to Gala<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<p><\/p>\n<p><strong>3. Diversion to Shell Firms<\/strong><\/p>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\"><\/ul>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Remaining funds were diverted to Veda Multicorp LLP, controlled by Gala\u2019s close associates.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<p><\/p>\n<p><strong>4. Circular Movement of Money<\/strong><\/p>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\"><\/ul>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Veda Multicorp transferred funds to Dentsu Communications.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>A portion of this money was then remitted back to CTPL, suggesting circular trading to create fake turnover and justify fund movements.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<p><\/p>\n<p><strong>Financial Spike Raised Red Flags<\/strong><\/p>\n<p><\/p>\n<p>The ED noted an extraordinary and suspicious rise in Suumaya Industries\u2019 financial statements:<\/p>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\"><\/ul>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>\u20b9211 crore revenue in FY 2019\u201320<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>\u20b92,450 crore revenue in FY 2020\u201321<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>\u20b96,754 crore revenue in FY 2021\u201322<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<p><\/p>\n<p>In FY 2021\u201322 alone, the company&#8217;s agri-produce segment contributed over 95% of total revenues, touching an enormous \u20b912,270 crore \u2014 a jump investigators believe was artificially inflated.<\/p>\n<p><\/p>\n<p><strong>What\u2019s Next?<\/strong><\/p>\n<p><\/p>\n<p>With Gala now in custody, ED is expected to confront him with evidence regarding:<\/p>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\"><\/ul>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Circular fund transactions<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Dummy companies<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Fake agricultural purchases<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Overseas remittances shown as \u201cadvance against imports\u201d<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list\">\n<li>Discrepancies in company financials<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/p>\n<p><\/p>\n<p>The arrest marks one of the most significant developments yet in the &#8216;Need to Feed&#8217; money laundering probe, with ED officials indicating more arrests and deeper financial scrutiny are likely.<\/p>\n<p><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai: ED Arrests Malad Businessman Ushik Gala in \u20b9998 Crore \u2018Need to Feed\u2019 Money Laundering Case Undercover Editor News | Mumbai In a major crackdown on financial fraud linked to a Haryana government welfare programme, the Enforcement Directorate (ED) on Tuesday arrested Malad-based businessman Ushik Gala, associated with Suumaya Industries, for allegedly laundering \u20b9998 crore under the \u2018Need to Feed\u2019 scheme. Investigators say the massive fund diversion was masked through fake agricultural transactions, shell companies and circular layering of money. Gala, who is also facing allegations in a \u20b9117 crore investor cheating case, has been remanded to ED custody till November 24 by the court. Complaint Triggered ED Action According to ED prosecutor Arvind Aghav, Gala\u2019s arrest stems from a money-laundering case based on a cheating FIR filed at Worli Police Station by investor Vinay Kumar Agrawal. Agrawal alleged that Suumaya Industries lured him into investing by showcasing a fictitious PPE and CSR contract worth \u20b97,000 crore, supposedly sanctioned under Haryana\u2019s \u2018Need to Feed\u2019 programme through Dentsu Communications India Pvt Ltd. Based on these \u201cassurances\u201d and what investigators describe as a \u201cfabricated financial picture,\u201d Agrawal invested heavily and later suffered losses amounting to \u20b9117 crore. How the Alleged Laundering Worked The ED investigation has uncovered a large-scale, complex financial web: 1. Creation of a Special Company Capalpha Trade Pvt Ltd (CTPL) was incorporated in February 2021, allegedly with the sole purpose of financing the \u2018Need to Feed\u2019 project. 2. Funds Passed Through Suumaya Group 3. Diversion to Shell Firms 4. Circular Movement of Money Financial Spike Raised Red Flags The ED noted an extraordinary and suspicious rise in Suumaya Industries\u2019 financial statements: In FY 2021\u201322 alone, the company&#8217;s agri-produce segment contributed over 95% of total revenues, touching an enormous \u20b912,270 crore \u2014 a jump investigators believe was artificially inflated. What\u2019s Next? With Gala now in custody, ED is expected to confront him with evidence regarding: The arrest marks one of the most significant developments yet in the &#8216;Need to Feed&#8217; money laundering probe, with ED officials indicating more arrests and deeper financial scrutiny are likely.<\/p>","protected":false},"author":2,"featured_media":1603,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[11,216],"tags":[217,211,81,85,218],"class_list":["post-1601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime","category-financial-crime","tag-edarest","tag-moneylaunderingcase","tag-mumbai-news","tag-undercovereditor-news","tag-ushikgala"],"_links":{"self":[{"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/posts\/1601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/comments?post=1601"}],"version-history":[{"count":5,"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/posts\/1601\/revisions"}],"predecessor-version":[{"id":1608,"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/posts\/1601\/revisions\/1608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/media\/1603"}],"wp:attachment":[{"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/media?parent=1601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/categories?post=1601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/undercovereditor.com\/hi\/wp-json\/wp\/v2\/tags?post=1601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}