ED fraud probe: Gurugram realty firm under scanner for allegedly diverting ₹205 crore from homebuyers’ funds
A Realty Group -based Realty Group and supporter Amitam Katyal, Krish Realtech, Executive Directorate (ED) is under investigation. La500 crore from home buyers for housing parcels, but it is claimed to be directed around later La205 Crore for a hotel project in Sri Lanka.
ED, Chargelege, many in the Delhi NCR region, registered within the scope of the law of money laundering, a series of people in the country, said that a series of hosts are investigating.
In particular, Katyal was arrested by ED in a separate money laundering case in 2023, Lalu Prasad, Chief of RJD, Lalu Prasad, his wife, Lord’s giant and other family members.
Ed what he said?
In July, ED’s Gurogram Zonal Office filed a charge against the group and its supporters, and the Local Special Black Money Laundering Law (PMLA) Court issued a notification to the defendants on August 19.
“ED investigation found the innocent land buyers of the defendant Amit Katyal by attracting them to reservation areas against their projects. Group company La500 Crore from more than 400 customers without having a valid license in accordance with the law. ”He said.
The “criminal revenues” obtained from this alleged fraud were “immediately directed” to the personal accounts of Katal and other “shell” (paper) companies and their family members.
The defendant appointed “puppet” directors in such shell companies and had various immovable properties.
Some LaED was “directed” through a shell company called Mahadev Infrastructure for a real estate-cum-hotel project in the Sri Lanka’s capital Colombo, the 205 Crore gathered from his landlords.
According to ED, some other funds were used to buy property, land and apartments on behalf of some “front” companies, such as Good Earth PVT. Ltd., a Transworks Square Pvt. Ltd. (Sri Lanka -based company), Paradise Tradelink Pvt. Ltd. and family members of supporters and employees.
Probe also found that Katyal’s son, who received the citizenship of Saint Kitts and Nevis, claimed the “useful property” of the assets in Sri Lanka.
ED is investigating fraud complaints
ED’s money laundering case, Delhi Police and Gurgram Police Police Economic Crimes Wing (Eow) are caused by the FIRS.
The agency made searches in this case last year and added the Realty project in Sri Lanka and the soils of the 63, 65 and 70th sector of Pridem’s 63, 65 and 70.
Ed Katyalın, who explained Modus Operandi used to maintain this alleged Realty fraud by promoters, said that he never aimed to deliver the parcels to the “pure” buyers promised to be built on a 70 -acre land in Gurigram. La2,000 Crore according to existing market rates.
Instead, by allocating the “undeveloped” land from the original land buyers to more than one investors, he said that he made various attempts to “wrong” in a “wrong” way before other initiatives, creating “imaginary” creditors in NCLT and deliberately “fictitious” creditors.
ED said land buyers “objected” to this application of the company before NCLT, and then the application had withdrawn by supporters.
The agency said that the list of land buyers sent in front of the Mittal Committee of the Justice Gittal (the Supreme Court to address the claim of land buyers and the opposite demands), the advantage of the promoter was “falsified”, he said.
“Some of the names of the land buyers have been defined by ED, who is not part of the list sent in front of the committee,” he said.
