ED attaches ₹1.09 crore in properties after rice sale proceeds not returned to Bihar

It matters to citizens as it details a specific enforcement action against a private company and individuals for alleged financial irregularities involving government procurement.

Who it concerns: The document concerns M/s Arena Food and Agro Industries Private Limited (Sheikhpura, Bihar), its director Radhey Sharma, and associated individuals including Shreekrishan Kumar, Shobha Kumari, Kanhaiya Kumar, and Kuber Kashyap. It also involves the Bihar State Food Corporation (BSFC) as the government entity affected.

What the ED says it did

• ED provisionally attached immovable properties valued at Rs. 1,09,26,808/- on 07.10.2026.
• The attachment was made under Section 2(1)(u) of the PMLA, 2002.
• The investigation was initiated based on an FIR alleging that the company procured 63,092.45 quintals of paddy from BSFC in 2012-13 but failed to supply the required 42,271.94 quintals of Custom Milled Rice (CMR).
• The accused supplied only 19,170 quintals of CMR, causing a loss of Rs. 5,00,28,637.19 to the government exchequer.
• An outstanding amount of Rs. 3,79,28,637/- was identified as proceeds of crime after accounting for Rs. 1,21,00,000 paid to BSFC.
• ED found that funds from the company's accounts were transferred to the bank accounts of directors, family members, and family entities.
• Further investigation is stated to be under progress.

Also in the document

• The ED stated that the Custom Milled Rice was sold in the open market in cash and the due amount was intentionally not returned to the Bihar Government despite reminders.
• The investigation revealed that proceeds of crime were used in business activities and have since been dissipated.