ED Attached Immovable Properties Worth Rs. 31.15 Crore of Realty Firm, Promoters

In a cheating case, the Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs. 31.15 crore owned by M/s. Pushpanjali Realms and Infratech Limited and the wife of its Director Rajpal Walia under the Prevention of Money Laundering Act (PMLA), 2002.

The ED launched a money laundering investigation based on a FIR filed by Rajpur Police Station in Dehradun on 08.07.2020 against M/s. Pushpanjali Realms and Infratech Limited, its Directors, and Others under various sections of the IPC for defrauding and duping innocent flat buyers after taking advance payments for booking flats in respect of the Company’s construction projects.

The ED investigation revealed that the advance booking amount received from the flat buyers was diverted by the company’s directors for other purposes and invested in the purchase of properties in their names and the names of their family members. The total amount involved is Rs. 31.15 crore, which is the proceeds of crime. Accordingly, immovable properties worth Rs. 31.15 Crore in the form of land owned by the Company, as well as a residential house and a flat owned by the Director Rajpal Walia and transferred to his wife, are attached in accordance with the provisions of the PMLA.

Further investigation in this case is under progress.