NEW DELHI | LUCKNOW: On Wednesday, the Enforcement Directorate initiated searches at various locations linked to a real estate group based in Uttar Pradesh as part of a money laundering investigation. The agency is looking into allegations that the group scammed investors out of Rs 248 crore, according to official sources.
As part of this investigation, searches are being conducted at eight sites in Lucknow and two in Delhi, targeting Rohtas Projects Ltd. The operation falls under the Prevention of Money Laundering Act (PMLA), the sources confirmed.
The investigation follows 87 FIRs filed since 2021 by buyers of homes and commercial spaces, claiming that they were deceived and did not receive their properties.
A forensic audit by the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has identified the “proceeds of crime” in this case as Rs 248 crore, according to the sources.
The searches aim to gather evidence and locate the promoters’ assets for possible attachment, as they have been “absconding” for the past four years, the sources stated.
The company’s promoters, identified as Piyush Rastogi, Paresh Rastogi, and Deepak Rastogi, could not be reached for comments regarding the ED’s actions against them.
