Tag: Satinder Singh Bhasin

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ED seizes 389 properties worth ₹240 crore in Grand Venezia case

ED provisionally attaches assets worth ₹158.37 crore in Rockland Hospitals PMLA case NEW DELHI: The Enforcement Directorate’s Lucknow Zonal Office has provisionally attached 389 immovable properties valued at ₹240.03 crore under the Prevention of Money Laundering Act, 2002, concerning a money laundering case involving Bhasin Infotech and Infrastructure, Grand Venezia Commercial Towers, Satinder Singh Bhasin, and others. The agency noted that the current market value of the attached properties exceeds ₹700 crore. The assets seized include five properties in Goa, valued at ₹37 crore, owned by India Oceanworld and Goa Connect Properties. Additionally, 384 commercial units and shops in Grand…

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ED Arrests Noida’s Bhasin Infotech Promoter

NEW DELHI: The Enforcement Directorate has apprehended the promoter of a Noida-based real estate firm in a money laundering investigation tied to the alleged cheating of home buyers, officials reported on Saturday. Satinder Singh Bhasin, director of Bhasin Infotech and Infrastructure Pvt Ltd (BIIPL) and owner of Grand Venice Mall in Greater Noida, was arrested on Friday. He was presented before a special court under the Prevention of Money Laundering Act (PMLA) in Ghaziabad, Uttar Pradesh, which ordered him to be held in Enforcement Directorate (ED) custody until June 6, as stated by officials. Authorities have claimed that Bhasin was…

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SC Denies Bail to Bhasin Infotech Promoter in Fraud Case

NEW DELHI: Six years after being granted bail in a case involving cheating homebuyers, the Supreme Court on Thursday revoked its previous order. The court directed Satinder Singh Bhasin, the promoter of Bhasin Infotech and Infrastructure Private Limited, to surrender and return to custody, noting that he had breached bail conditions and misappropriated Rs 75 crore from homebuyers while on bail. A bench comprising Justices Sanjay Karol and N K Singh granted Bhasin one week to surrender, stating that he must serve at least one year in jail. The court indicated that he could apply for regular bail again after…