JAIPUR: The owner of Debock Industries Ltd has been investing over Rs 100 crore in real estate, utilizing proceeds from a financial fraud. The acquisitions include villas, housing schemes, hotels, and resorts equipped with wedding banquet halls.
This information was disclosed by officials from the Enforcement Directorate (ED), who are investigating the money laundering case concerning the group. As the raids unfolded on Saturday, an ED officer stated, “We have seized Rs 78 lakh, property papers for 150 bighas of land, along with incriminating documents and evidence against the company.”
“They were developing a resort near Chaksu for destination weddings, featuring modern amenities and opulent banquet halls meant for grand celebrations. Our team is evaluating the scope of the proceeds of crime,” the officer added.
The ED also seized four luxury vehicles from the managing director of Debock, Mukesh Manveer Singh, including a Rolls Royce, Bentley, Land Cruiser, and a Mercedes G Wagon Brabus.
The ED executed raids at 12 locations across Jaipur and Kota on Friday, unraveling a substantial financial fraud amounting to over Rs 100 crore linked to Debock Industries Ltd. The investigation commenced following a complaint made by the Securities and Exchange Board of India (SEBI), targeting Mukesh Manvir Singh and other key individuals allegedly involved in the scam, such as Gaurav Jain and Jyoti Chaudhary.
