Business News | ED Attaches Assets Worth Rs 31.15 Cr of Realty Firm, Promoters
Get latest articles and stories on Business at LatestLY. The Enforcement Directorate (ED) has attached immovable properties worth Rs 31.15 crore belonging to Uttarakhand-based Pushpanjali Realms and Infratech Limited and wife of its Director Rajpal Walia in a cheating case, the agency said on Wednesday.
New Delhi [India], March 30 (ANI): The Enforcement Directorate (ED) has attached immovable properties worth Rs 31.15 crore belonging to Uttarakhand-based Pushpanjali Realms and Infratech Limited and wife of its Director Rajpal Walia in a cheating case, the agency said on Wednesday.
The attached properties are in the form of land belonging to the company and a residential house and a flat belonging to Director Rajpal Walia which had been transferred to his wife. The properties were attached under the Prevention of Money Laundering Act (PMLA), 2002.
Also Read | Madhya Pradesh: Woman Gives Birth to Baby With Two Heads, Three Hands in Ratlam.
ED had initiated a money-laundering investigation on the basis of a First Information Report (FIR), dated 08 July 2020, registered by Rajpur Police Station, Dehradun (Uttarakhand) against the Pushpanjali Realms and Infratech Ltd, its directors and others under various sections of the Indian Penal Code (IPC) for cheating and duping innocent flat buyers after taking advance payments for booking of flats.
An investigation by the ED revealed that the advance booking amount received from the flat buyers were diverted by the directors of the company for other purposes and invested the same to purchase properties in their (directors) name and family members, said an official of the investigating agency.
Also Read | RR vs SRH, IPL 2022: Kane Williamson Fined Rs 12 Lakh For Slow Over Rate.
The financial irregularities by the promoters of the realty firm amounted to Rs 31.15 crore which are proceeds of crime, said the ED official. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)