Money Laundering Case: ED Attaches Properties Of Businessman Amit Katyal

The Enforcement Directorate on Tuesday has attached properties worth ₹56.86 crore belonging to businessman Amit Katyal and his company Krrish Realtech Pvt Ltd, as part of an investigation into alleged money laundering and illegal diversion of funds from plot buyers.

The properties were attached on October 17 under the Prevention of Money Laundering Act, 2002.

Amit Katyal and Rajesh Katyal, along with their associates, are implicated in a case linked to a land scam involving railway jobs, in which former railway minister Lalu Prasad Yadav is also an accused.

The ED alleges that Krrish Realtech Pvt Ltd and Brahma City Pvt. Ltd. defrauded numerous investors by illegally accepting payments for plots without proper licensing from the Directorate of Town and Country Planning.

On October 18, the ED conducted searches at two locations, resulting in the recovery of ₹35 lakh in cash and other incriminating materials. Rajesh Katyal was arrested on October 19 and subsequently granted 7 days of custody by a Special Court in Delhi.

The ED’s investigation began following multiple FIRs filed by the Gurugram Police and the Economic Offences Wing (EOW), New Delhi.

It was revealed that Rajesh Katyal played a key role in collecting and diverting funds from potential plot buyers under false pretenses, using agreements based on a DTCP license held by another company.

Previously, the DTCP deemed the collection of funds by these companies illegal in a February 10, 2022 order. The ED has traced over ₹200 crore in proceeds of crime laundered through their companies, particularly Mahadev Infrastructure Pvt Ltd, managed by Rajesh Katyal.

The agency’s ongoing investigation seeks to uncover the full extent of the alleged fraud and money laundering activities.

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