The Special Court for Prevention of Money Laundering Act has recently taken cognizance of a complaint filed by the ED in connection with cheating flat buyers.
The ED on November 18 filed a complaint with the Special Court of Dehradun against the directors of M/s Pushpanjali Realms and Infratech Ltd., among others, in a case related to the cheating and duping of innocent flat buyers.
Furthermore, ED initiated an investigation on the basis of an FIR registered by the Rajpur Police Station, Dehradun, against M/s Pushpanjali Realms and Infratech Ltd., its Directors and others under various sections of the IPC for cheating and duping innocent flat buyers after taking advance payments for booking of flats in respect of construction projects of the company.
The ED investigation revealed that the amount of the advance booking received from the flat buyers was diverted by the directors of the company for other purposes and invested the same in the purchase of properties in their name and in the name of their family members. The total proceeds of crime in this case are Rs. 31.15 crore.
Earlier, during the course of the investigation, the ED arrested Rajpal Walia, director of M/s Pushpanjali Realms and Infratech Ltd., and Shefali Walia on October 12, 2023, and September 23, 2023, respectively, in connection with the investigation conducted under the PMLA, 2002 and both of them are presently under judicial custody.
The ED already attached immovable assets amounting to Rs. 31.15 crore of M/s Pushpanjali Realms and Infratech Ltd. and its directors under the provisions of PMLA, 2002, which have been confirmed by the Ld’s adjudicating authority.
