Goa: ED visits Dempo Group office in connection with probe against former employee

According to the ED, the former employee of the company had created assets worth Rs 30 crore while he was employed abroad. ED officials, however, said he had made the investments in his personal capacity.

By: Express News Service

Panaji | Updated: May 9, 2022 09:50 PM IST

1 min read

The Enforcement Directorate Monday conducted searches across offices of the Goa-based Dempo Group of companies.

The Enforcement Directorate (ED) on Monday visited the office of the Dempo Group in Panjim in connection with a probe against a former employee of the company.

According to the ED, Sanjay Shinde, a former employee of the company, had created assets worth Rs 30 crore while he was employed abroad with the Dempo Group in 2009-10. ED officials, however, said that Shinde had made the investments in his personal capacity.

A senior official of the company said, “They (ED) only visited our corporate office in Panaji. They have gone through some documents and they were completely satisfied that we have no connection with what the ex-employee had done.”

Shinde, who was earlier employed with the mining arm of Dempo Group of companies, was absorbed in the coal business in Indonesia after the mining business was sold to Vedanta. He worked with the Dempo group from 2007 to 2010. He was stationed in Indonesia where the Group then ran a coal business, which was later closed. He left the Dempo group in 2010.

Stay updated with the latest - Click here to follow us on Instagram

Tags:

Goa Panaji