The Enforcement Directorate (ED) has recently filed a Prosecution complaint ( Charge sheet) against Sandeepa Virk and another proposed accused Amit Gupta alias Nageshwar Gupta in a money laundering case. Virk was arrested on August 12 and is running in judicial custody.
Additional Sessions Judge (ASJ) Vijay Shankar, on October 13, issued notice to the accused persons after taking the charge sheet on record.
The court listed the matter for consideration on the point of cognisance on November 3.
While issuing notice the court referred to section 223 Bhartiya Nagrik Surksha Sanhita (BNSS), which says that no cognizance of an offence shall be taken by the Magistrate without giving the accused an opportunity of being heard.
"In view of the same, issue notice to the proposed accused Amit Gupta alias Nageshwar Gupta by all modes through the Directorate of Enforcement, for the next date of hearing so that he can also be heard by this Court before taking cognisance upon the present prosecution complaint," ASJ Vijay Shankar ordered on October 13.
The court also directed that a copy of the prosecution complaint and documents be sent to the proposed accused.
Special public prosecutor (SPP) Simon Benjamin appeared for ED and filed the charge sheet.
ED has filed the prosecution complaint against Amit Gupta and Sandeepa Virk for the offence under section 3 of the Prevention of Money Laundering Act (PMLA), punishable under section 4 of PMLA.
It is the case of the ED that at Police Station Phase-8, SAS Nagar, Mohali, under section 406, 420 IPC was registered in 2016, and after completion of the investigation, a charge sheet was filed against the accused Amit Gupta.
ED stated that the Offence under section 420 (Cheating) IPC is covered under schedule offences under PMLA, and on 11/08/2025, a case under section 3, 4 PMLA was registered, and the matter was investigated by the ED. After completion of the investigation, the present prosecution complaint was filed.
It is the case of the Directorate of Enforcement that both proposed accused have committed the offence of money laundering under PMLA.
As per ED, investigation revealed that Sandeepa Virk has acquired immovable property in her name by making false promises and cheating. She claims to be the owner of hyboocare.com, website purportedly selling FDA-approved beauty products.
However, the products listed on the site have been found to be non-existent, the ED's alleged.
Directorate of Enforcement (ED), had conducted search operations on 12 and 13 August 2025 at multiple locations in Delhi and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
These operations were part of an ongoing investigation into Sandeepa Virk, and her associates, who are alleged to have exerted undue influence through misrepresentation and defrauded individuals by soliciting money under false pretences.
The ED had earlier stated that website lacks a user registration option and is plagued by persistent payment gateway issues. Scrutiny of the website uncovered minimal social media engagement, an inactive WhatsApp contact number, and an absence of transparent organizational details, all of which reinforce the finding of non-genuine commercial activity.
These factors including limited product range. inflated pricing, false claims of FDA approval, and technical inconsistencies, indicate that the website serves as a front for laundering funds, ED claims.
The agency has stated that one person with whom Sandeepa Virk was in regular touch is Angarai Natarajan Sethuraman, former Director of erstwhile Reliance Capital Limited, with whom she had been communicating regarding illegal liaison work.
It is further stated that Search at the residence of Sethuraman has confirmed the same. Besides, diversion of funds for personal benefit has also been unearthed during the course of such search action.
In 2018, public money of Rs 18 Crore approx. belonging to Reliance Commercial Finance Ltd (RCFL) was disbursed to Sethuraman by flouting prudent lending norms. The funds were lent under terms that allowed deferment of principal as well as interest, with multiple waivers granted and no due diligence conducted, agency has claimed.
Besides, home loan of Rs 22 Crore was provided by Reliance Capital Limited by violating the prudential norms. Large part of these loans are seen to have been eventually siphoned off and remained unpaid, the statement said.
ED has said that during the search operation, several incriminating documents and records were seized, and statements of key persons and associates, including Farrukh Ali, have been recorded. Further, Sandeepa Virk has been arrested on 12.08.2025 under the provisions of PMLA.
She was produced before the Tis Hazari Court, which has granted custody to ED till August 14, 2025, for further investigation.
On August 14, Angarai Sethuraman issued a Statement on the allegations levelled by the ED and said, "These allegations are entirely baseless." He firmly denied any connection or involvement with Sandeepa Virk or any transactions related to her.
He also clarified that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.
Additional Sessions Judge (ASJ) Vijay Shankar, on October 13, issued notice to the accused persons after taking the charge sheet on record.
The court listed the matter for consideration on the point of cognisance on November 3.
While issuing notice the court referred to section 223 Bhartiya Nagrik Surksha Sanhita (BNSS), which says that no cognizance of an offence shall be taken by the Magistrate without giving the accused an opportunity of being heard.
"In view of the same, issue notice to the proposed accused Amit Gupta alias Nageshwar Gupta by all modes through the Directorate of Enforcement, for the next date of hearing so that he can also be heard by this Court before taking cognisance upon the present prosecution complaint," ASJ Vijay Shankar ordered on October 13.
The court also directed that a copy of the prosecution complaint and documents be sent to the proposed accused.
Special public prosecutor (SPP) Simon Benjamin appeared for ED and filed the charge sheet.
ED has filed the prosecution complaint against Amit Gupta and Sandeepa Virk for the offence under section 3 of the Prevention of Money Laundering Act (PMLA), punishable under section 4 of PMLA.
It is the case of the ED that at Police Station Phase-8, SAS Nagar, Mohali, under section 406, 420 IPC was registered in 2016, and after completion of the investigation, a charge sheet was filed against the accused Amit Gupta.
ED stated that the Offence under section 420 (Cheating) IPC is covered under schedule offences under PMLA, and on 11/08/2025, a case under section 3, 4 PMLA was registered, and the matter was investigated by the ED. After completion of the investigation, the present prosecution complaint was filed.
It is the case of the Directorate of Enforcement that both proposed accused have committed the offence of money laundering under PMLA.
As per ED, investigation revealed that Sandeepa Virk has acquired immovable property in her name by making false promises and cheating. She claims to be the owner of hyboocare.com, website purportedly selling FDA-approved beauty products.
However, the products listed on the site have been found to be non-existent, the ED's alleged.
Directorate of Enforcement (ED), had conducted search operations on 12 and 13 August 2025 at multiple locations in Delhi and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
These operations were part of an ongoing investigation into Sandeepa Virk, and her associates, who are alleged to have exerted undue influence through misrepresentation and defrauded individuals by soliciting money under false pretences.
The ED had earlier stated that website lacks a user registration option and is plagued by persistent payment gateway issues. Scrutiny of the website uncovered minimal social media engagement, an inactive WhatsApp contact number, and an absence of transparent organizational details, all of which reinforce the finding of non-genuine commercial activity.
These factors including limited product range. inflated pricing, false claims of FDA approval, and technical inconsistencies, indicate that the website serves as a front for laundering funds, ED claims.
The agency has stated that one person with whom Sandeepa Virk was in regular touch is Angarai Natarajan Sethuraman, former Director of erstwhile Reliance Capital Limited, with whom she had been communicating regarding illegal liaison work.
It is further stated that Search at the residence of Sethuraman has confirmed the same. Besides, diversion of funds for personal benefit has also been unearthed during the course of such search action.
In 2018, public money of Rs 18 Crore approx. belonging to Reliance Commercial Finance Ltd (RCFL) was disbursed to Sethuraman by flouting prudent lending norms. The funds were lent under terms that allowed deferment of principal as well as interest, with multiple waivers granted and no due diligence conducted, agency has claimed.
Besides, home loan of Rs 22 Crore was provided by Reliance Capital Limited by violating the prudential norms. Large part of these loans are seen to have been eventually siphoned off and remained unpaid, the statement said.
ED has said that during the search operation, several incriminating documents and records were seized, and statements of key persons and associates, including Farrukh Ali, have been recorded. Further, Sandeepa Virk has been arrested on 12.08.2025 under the provisions of PMLA.
She was produced before the Tis Hazari Court, which has granted custody to ED till August 14, 2025, for further investigation.
On August 14, Angarai Sethuraman issued a Statement on the allegations levelled by the ED and said, "These allegations are entirely baseless." He firmly denied any connection or involvement with Sandeepa Virk or any transactions related to her.
He also clarified that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.
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