In
1992, established as ‘Maruti Proteins Ltd.’, today the company stands as ‘N.K.
Proteins Ltd.’ in the business market and the brand is called as ‘Tirupati’
across India. N.K.Proteins Ltd. started its journey by Edible Oil Industry with
Nilesh Patel, being the Managing Director is closely involved in the material
aquirement process as one of the core areas for a company dealing in the Edible
Oil Industry.
Gujarat based N. K. Proteins is declared as the
largest NSEL Defaulter owing Rs. 969 Cr. to NSEL investors. Due to which Nilesh
Patel, the company’s promoter, was arrested by the Economic Offenses Wing (EOW)
of the Mumbai Police for being the largest NSEL Defaulter in the Rs. 5,600 Cr.
NSEL crisis. Later, Nilesh Patel was released on bail. As EOW’s investigation moved forward, they established that
the owners of the Tirupati brand of cooking oil, N.K. Proteins, diverted the
funds that were raised on NSEL in a branch of Tirupati in Ahmedabad, which is
promoted by Darshan Baldevbhai Patel of N.K. Corporation, who is also cousin of
Nimish Patel, strongly opposed by the EOW.
According to an ED
order, the agency has seized movable and immovable properties of NK Proteins in
Mumbai, Noida, Ahmedabad and Palanpur in Gujarat under the criminal provisions
of the Prevention of Money Laundering Act (PMLA). The Enforcement
Directorate (ED) has attached assets worth Rs 18.1 crore of N. K. Proteins in
connection with its money laundering probe in the National Spot Exchange
Limited (NSEL) crisis case. ED Mumbai has also attached
commercial property under PMLA in Ahmedabad worth Rs 14.22 crore of N K Protein
in NSEL crisis along with some offices, valued at Rs 14.22 crore in a
commercial complex in Ahmedabad.
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