Indore (Madhya Pradesh): In the biggest action of the year in Madhya Pradesh, Enforcement Directorate (ED) swooped down on leading builders of the city on Thursday morning. Surendra Sanghvi, Manish Shahara and Deepak Madda came under ED radar on alleged charges of money laundering. In a late night development, Surendra and his son Pratik Sanghvi were detained by ED. They would be produced in court on Friday morning.
More than 15 officials of the ED launched the action at the residence of all these three leading builders of the city simultaneously early morning on Thursday. The two actions were carried out in residences of Surendra Sanghvi and
Manish Shahara at Pragati Vihar Colony in Bichholi area. The third location of action was the residence of Deepak Madda in Gulmohar Colony. Madda and Sanghvi are already facing the action from district administration in several cases of land fraud. These cases are already under trial in court.
Reports suggested that Sanghvi, Madda and Shahara were involved in real estate business and land dealings for the last 15 to 20 years. It is claimed that black money was used in all these deals. They used the real estate business as cover for money laundering.
Manish Shahara did some land deals and real estate projects with Surendra Sanghvi. Thus, Shahara also fell into ED net.
Now ED officials are investigating money trail in real estate deals and scurrying through their bank accounts
In the past, following district administration’s instruction, six FIRs were lodged against the leading builders in February 2021. Currently Deepak Madda is in jail on charges of land fraud in the same FIRs. Surendra Sanghvi is out following bail from the High Court. After registering the FIRs, district administration and the police had asked ED to investigate the matter from money laundering perspective. They had also shared some vital information that surfaced during their investigation.
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