Explosive ED Raids: Uncovering the Shocking Truth Behind Arunachal’s Power Corporation Founder
The Enforcement Directorate (ED) has carried out searches at various locations linked to the business ventures of Niraj Sharma in Arunachal Pradesh. These operations are part of an ongoing probe into suspected financial irregularities, money laundering, and regulatory breaches. According to ED Director Dheeraj Goyal, the focus of the investigation is on the Sharma family’s involvement in power trading and liquor manufacturing.
Niraj Sharma, the founder of the Arunachal Pradesh Power Corporation, leads one of India’s top power trading firms with an annual turnover of Rs 2,000 crore. The inquiry extends to the family’s liquor business, managed by Sharma’s daughter, Meenakshi Sharma. Although specifics of the findings remain undisclosed, sources suggest the searches are linked to potential financial misconduct in the family’s enterprises.
The Sharma family initially entered the business world with liquor retail and distribution in Nagaland in 1989, relocating to Arunachal Pradesh due to Nagaland’s prohibition laws. Niraj Sharma launched the power trading venture in 1997, while his son, Karan Sharma, revitalized it after a period of dormancy, achieving a prominent position in the Indian power trading industry.
Meenakshi Sharma expanded the liquor business, securing contracts with major brands and launching her own product lines, including Royal Casino whiskey and Honey Beehive brandy. By 2020, the family’s business had reached a turnover of Rs 2,000 crore, with significant contributions from both power trading and liquor sales. The firm operates offices across India and is planning to venture into ferrosilicon steel manufacturing.
Despite the ongoing scrutiny, Niraj Sharma is optimistic about the future, anticipating a doubling of the family’s revenue over the next three years. The ED is continuing its investigation into the alleged financial violations, with further developments expected in the near future.
Original Source: https://www.indiatodayne.in/arunachal-pradesh/story/arunachal-ed-raids-businesses-linked-to-states-power-corporation-founder-1166085-2025-02-04?utm_source=rssfeed
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Publish Date: 2025-02-04 20:00:00
