The Enforcement Directorate (ED) has attached immovable properties worth Rs 31.15 crore belonging to Uttarakhand-based Pushpanjali Realms and Infratech Limited and wife of its Director Rajpal Walia in a cheating case, the agency said on Wednesday.
The attached properties are in the form of land belonging to the company and a residential house and a flat belonging to Director Rajpal Walia which had been transferred to his wife. The properties were attached under the Prevention of Money Laundering Act (PMLA), 2002.
ED had initiated a money-laundering investigation on the basis of a First Information Report (FIR), dated 08 July 2020, registered by Rajpur Police Station, Dehradun (Uttarakhand) against the Pushpanjali Realms and Infratech Ltd, its directors and others under various sections of the Indian Penal Code (IPC) for cheating and duping innocent flat buyers after taking advance payments for booking of flats.
An investigation by the ED revealed that the advance booking amount received from the flat buyers were diverted by the directors of the company for other purposes and invested the same to purchase properties in their (directors) name and family members, said an official of the investigating agency.
The financial irregularities by the promoters of the realty firm amounted to Rs 31.15 crore which are proceeds of crime, said the ED official
