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New Delhi: Enforcement Directorate The real estate group has attached assets worth over Rs 1,317 crore IREOIts Managing Director and Vice President Lalit Goyal and affiliated entities a. as part of Money laundering investigation.
The attached properties include land, commercial spaces, plots, residential homes and bank accounts, the federal agency said in a statement on Saturday.
The total value of these attached properties is Rs 1,317.30 crore.
The ED took cognizance of at least 30 FIRs registered against the group, its affiliated entities, its directors, key managerial persons and others at various police stations in Gurugram, Panchkula, Ludhiana and Delhi for registering money laundering cases.
The probe found, the agency said, that the accused allegedly “cheated” innocent buyers by promising them flats, plots, commercial space etc. However, they neither delivered the projects nor returned their money.
The directors of the company in connivance with others “confiscated” the money collected from the buyers and did not use it for the intended purpose.
It said that they remitted this money outside India in the form of buy-back of shares, redemptions, FCDs etc and gave loans and advances to concerned entities/individuals, excessive incentives to key managerial persons to “fraud” the books and given in advance. The ED alleged that it invested in the purchase of immovable properties and shares of various companies within and outside the country.
In this case, the agency had arrested Goyal in November last year and later filed a charge sheet under the Special Prevention of Money Laundering Act.PMLA) court in Panchkula in January.
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