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New Delhi: The Enforcement Directorate The (ED) has seized 119 bank accounts, two luxury vehicles and some insurance policies under the Anti-Money Laundering Act after raiding the promoters of a Bihar-based real estate company, which is accused of duping several home buyers.
Searches were started on April 18 at around eight locations of the company. Pioneer Homes Pvt. Ltd., its CMD Alok Kumar Singh, Vijay Raj Laxmi, Alka SinghRana Ranveer Singh with a “key employee” Satwik Singh and Chartered Accountant Nishat Srivastava PatnaVaranasi, Lucknow and Delhi, the agency said in a statement.
The ED alleged, “Agrani group of companies and its directors have duped potential home buyers and illegally diverted their deposits/investments to acquire properties in their individual names or in the names of other companies.”
The money laundering case against the company and its promoters, registered under provisions of the Prevention of Money Laundering Act (PMLA), stems from at least eight FIRs. A state in Eastern India Police.
Besides this, the ED said, more than 73 complaints Pioneer Homes Private Limited, PatnaThis was welcomed by CMD Singh and others where it was mentioned that the said company had “cheated” potential home buyers to the tune of Rs 9.73 crore.
Sale deed of properties purchased by Alok Kumar Singh The ED said that apart from 119 bank accounts in his name and the name of his company, four insurance policies and two luxury vehicles (in the name of Agrani Homes Pvt Ltd and its directors) were seized during the raids.
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