Ludhiana drug lord Akshay Chhabra had 25% stake in 2 liquor companies

Ruchika M Khanna

Chandigarh, January 19

Drug lord of Ludhiana Akshay Chhabra, arrested by the Narcotics Control Bureau last year, had invested crores of rupees in the liquor business. He had tied up with liquor contractors to invest his money in two liquor groups in Ludhiana.

Now, the NCB, investigating the money trail in the drug case, has sought the details of the money diverted by Chhabra into the liquor business from the Punjab Excise Department. Being the “proceeds of crime”, the central agency wants the money, invested by Chhabra and his associates, to be returned by the department. The latter, however, has expressed helplessness, saying the money was deposited in the state government treasury.

Highly placed sources in the government said the department had already initiated an inquiry into the extent of involvement of Chhabra in the liquor business.

“We have found that he had invested in two groups (group is a single licensing unit) after we were approached by the NCB,” said a senior officer in the department, adding that they were also looking at other deeds signed with contractors of 36 groups in the Ludhiana Range.

Charges against accused

• It is now alleged that Akshay Chhabra was using his side businesses, including liquor, for money laundering
• He would get raw heroin and other drugs and then use these to manufacture synthetic drugs, the NCB has alleged

It is learnt that Chhabra had a 25 per cent stake in two liquor groups – the Fortis group and the Gill Road group. The total revenue, promised by AS Company in which Chhabra was also a partner, is Rs 74 crore. “The company had deposited Rs 3.50 crore in June when liquor vends were allotted to it. Till November, it had not defaulted on making its monthly payment of licence fee,” said a senior officer.

Chhabra’s other partners in the liquor trade, who were also questioned by the NCB, have also been summoned by Excise officials in Ludhiana.