Tag: Enforcement Directorate

Latest StoriesRegulatory

ED Names Valmark Realty Director in TDR Scam Involving Bengaluru Officials

BENGALURU: The Enforcement Directorate (ED) has filed a prosecution complaint in connection to a Transferable Development Rights (TDR) scam involving the director of Valmark Realty Holdings Private Ltd (VRHPL) along with 19 other accused, including former employees of the Bruhat Bengaluru Mahanagara Palike (BBMP). The investigation, initiated based on an FIR lodged by the Anti-Corruption Bureau (ACB) in 2019, claims that VRHPL’s director, Ratan Lath, acquired development right certificates (DRCs) and unlawfully sold TDRs to various real estate companies and individuals, netting illicit profits of approximately ₹27.7 crore. According to a press release from the ED, TDR brokers K Suresh,…

Latest StoriesRegulatory

ED Seizes ₹313.12 Crore in Ansal Group Money Laundering Case

NEW DELHI: On Wednesday, the Enforcement Directorate (ED) announced the attachment of immovable properties valued at ₹313.12 crore as part of its ongoing probe into Ansal Properties and Infrastructure Ltd (APIL) and its promoters. This action stems from allegations of financial misappropriation and fraudulent diversion of funds collected from homebuyers. These properties include residential land parcels totaling 9.08 hectares, situated in Agra, Uttar Pradesh, and are registered under the names of companies affiliated with APIL. The ED’s Lucknow zonal office executed the attachment under the Prevention of Money Laundering Act (PMLA), 2002. The investigation was prompted by 278 FIRs lodged…

Latest StoriesRegulatory

ED Charges Five with Laundering ₹36.66 Crore from Sand Mining

PATNA: The Enforcement Directorate (ED) has lodged a prosecution complaint in the Special PMLA Court in Patna against Arun Yadav, Kiran Devi, Rajesh Kumar Ranjan, and Dipu Kumar, as well as their company, Kiran Durga Contractors Pvt Ltd, for money laundering. This case centers around substantial illegal funds generated primarily through unauthorized sand mining in Bihar, alongside corruption and related criminal activities. The investigation commenced following multiple FIRs filed by Bihar Police and the Special Vigilance Unit alleging various offenses, including cheating, extortion, illegal sand mining, and possession of assets disproportionate to their lawful income. During the inquiry, the ED…

Latest StoriesRegulatory

ED Seizes Assets Worth ₹200 Crore from Delhi’s TDI Infrastructure

NEW DELHI: The Enforcement Directorate (ED) announced on Friday that it has provisionally attached immovable assets valued at over Rs 200 crore belonging to Delhi-based real estate firm TDI Infrastructure Limited, as part of an ongoing money-laundering investigation related to alleged fraud against homebuyers. The assets in question consist of 8.3 acres of land and commercial units in Kamaspur, Sonipat, Haryana, owned by TDI Infrastructure Limited (previously known as Intime Promoters Private Limited) and its affiliated companies. The ED stated that these properties have been appraised at Rs 206.4 crore. The company was unavailable for immediate comment regarding the ED’s…

Latest StoriesRegulatory

ED Seizes ₹14 Crore in Sai Surya Developers Fraud Case

HYDERABAD: The Enforcement Directorate (ED) in Hyderabad has provisionally attached assets worth ₹14 crore under the Prevention of Money Laundering Act. This action is part of an investigation into Sai Surya Developers and others, who are accused of defrauding numerous depositors by falsely claiming to sell plots in various real estate projects. The assets seized include land owned by Sai Surya Developers. The ED commenced its investigation based on multiple FIRs filed by the Telangana police against Sathish Chandra Gupta, the proprietor of Sai Surya Developers, among others. According to the police’s chargesheet, Gupta allegedly received payments from several victims…

Latest StoriesRegulatory

ED Seizes ₹598 Crore in Assets from Ansal Properties Case

Sure! Here’s a rewritten version of the content: NEW DELHI: The Enforcement Directorate (ED) announced on Wednesday the attachment of land valued at Rs 598 crore in Agra, Uttar Pradesh, part of an investigation into money laundering involving Ansal Properties and Infrastructure Ltd. (APIL). The inquiry is focused on significant irregularities related to the acquisition and release of land in Gurugram’s sectors 58-63 and 65-67. The ED stated that it has issued a provisional order under the Prevention of Money Laundering Act (PMLA) to seize land in Agra amounting to over Rs 598 crore. The properties are registered under various…

Latest StoriesRegulatory

Ex-Jaypee Infratech MD Surrenders at Tihar Jail, Delhi

NEW DELHI: Manoj Gaur, the former Managing Director of Jaypee Infratech, surrendered to the authorities at Tihar Jail following a Delhi court’s decision to deny his regular bail application in a money laundering case linked to alleged fraud against homebuyers, which is being investigated by the ED. According to officials, Gaur, who had previously received interim bail, surrendered on Thursday and is now incarcerated in Tihar Jail. Jaiprakash Power Ventures Ltd also announced on Friday that Gaur, who serves as a non-executive director and chairman of the company, has “surrendered before judicial authorities upon expiration of the term of his…

Latest StoriesRegulatory

ED summons Jaypee Infratech homebuyers in money laundering case

NOIDA: The Enforcement Directorate (ED) has summoned homebuyers of Jaypee Infratech Ltd (JIL) as part of an ongoing money laundering investigation regarding the alleged misallocation of funds within the company’s insolvency resolution plan. Summons were issued by the Delhi-II Zonal Office of the ED, directing affected homebuyers to appear before the agency and provide updates on their respective projects related to the Jaypee group, as well as to submit statements to the investigating officer. A representative for the homebuyers confirmed receiving a summons two weeks ago and has since recorded a statement. Reports indicate that several other buyer representatives have…

Latest StoriesRegulatory

Ex-Lodha Developer Director in ED Custody Until Feb 20

MUMBAI: On Friday, a special PMLA court in Mumbai remanded Rajendra Lodha, a former director of Lodha Developers Ltd, into Enforcement Directorate (ED) custody until February 20, in connection with a money laundering case involving ₹85 crore. The ED’s case is founded on allegations of cheating and forgery, as detailed in a FIR filed by the Mumbai police’s crime branch under the Bharatiya Nyaya Sanhita (BNS). Rajendra Lodha was arrested by the crime branch in September of last year and has since been held in judicial custody. The ED officially took him into custody on Thursday for the money laundering…

Latest StoriesRegulatory

ED Arrests ex-Lodha Developers Director in ₹85 Cr Money Laundering

MUMBAI: The Enforcement Directorate (ED) has formally arrested Rajendra Lodha, a former director of Lodha Developers Limited, in connection with an alleged money laundering case involving ₹85 crore. The ED’s case is built on accusations of cheating and forgery reported by the Mumbai police under the Bharatiya Nyaya Sanhita (BNS). Lodha was previously arrested in a related crime branch case back in September and has remained in judicial custody. During the investigation, the ED presented him to a special court overseeing cases filed under the Prevention of Money Laundering Act (PMLA), where he was officially placed under arrest. He is…