LUCKNOW: The Enforcement Directorate’s Lucknow zonal office has provisionally attached immovable assets valued at approximately ₹100 crore belonging to the Amrapali Group in relation to a money laundering investigation.
The assets include the office and factory land and buildings connected to Mauria Udyog, a subsidiary of the Sureka Group founded by Navneet and Akhil Sureka of Amrapali Group.
The investigation was prompted by multiple FIRs filed at various police stations in Gautam Budh Nagar, along with an order from the Supreme Court dated July 23, 2019, in the case of Bikram Chatterji & Others vs. Union of India & Others, initiated by dissatisfied homebuyers. The ED claims the promoters of Amrapali allegedly took substantial amounts from homebuyers yet failed to deliver the promised flats on time. Funds were reportedly misappropriated through criminal conspiracies, fictitious transactions, forgery, and fraud.
The investigation unveiled that Amrapali directors Anil Kumar Sharma, Shiv Priya, and Ajay Kumar colluded with Navneet Sureka and Akhil Sureka to misdirect homebuyers’ funds, which were funneled through shell companies and counterfeit suppliers.
The ED determined that ₹110.39 crore of homebuyers’ money was improperly transferred to Mauria Udyog. As the initial proceeds of crime were no longer accessible for direct attachment, properties were seized based on the “value thereof” principle under the PMLA.
Previously, the ED detained senior executives from Amrapali, including directors, the statutory auditor, and the CFO, with six prosecution complaints filed against 33 individuals and entities. The total value of properties attached in this case now amounts to ₹303 crore.
