PMLA court initiates proclamation proceedings against Surya Pharmaceuticals directors

The Prevention of Money Laundering Act (PMLA) Court in Chandigarh has commenced proclamation proceedings against Rajiv Goyal and Alka Goyal, directors of Surya Pharmaceuticals, in a complaint filed by the Enforcement Directorate (ED) two years ago. The ED filed the complaint against the directors under Sections 44, 45, 3 read with 70, and Section 4 of the PMLA, 2002.

The ED's investigation began after the Central Bureau of Investigation (CBI) registered a case against the directors in 2018 for allegedly defrauding a consortium of five banks to the tune of Rs 621 crore. The CBI alleged that the accused diverted and siphoned off the loan through its sister concerns, failing to utilise the credit for its intended purpose of manufacturing pharmaceuticals.

The ED filed the complaint in April 2024.

Despite multiple summons, the directors failed to appear before the court, prompting the ED to seek proclamation proceedings. The PMLA court, in its order on October 2, 2025, noted that the accused are already declared proclaimed persons in another CBI matter and their whereabouts are unknown. The court is satisfied that the service of the accused cannot be secured through ordinary process.

The court has issued a proclamation under Section 84 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) against Surya Pharmaceuticals through its directors, returnable on November 11, 2025. The directors have been directed to appear before the PMLA court to answer the complaint on the scheduled hearing date.

The ED's complaint stems from a case registered by the CBI in 2018, alleging criminal conspiracy, cheating, forgery and offenses under the Prevention of Corruption Act.