Enforcement Directorate has attached properties worth ₹56.86 crore of Krrish Realtech Private Limited and others on money laundering charge in connection with the allegation of cheating people on the pretext of selling to them land parcels. Photo: Twitter/@dir_ed
The Enforcement Directorate has attached properties worth ₹56.86 crore of Krrish Realtech Private Limited and others on money laundering charge in connection with the allegation of cheating people on the pretext of selling to them land parcels.
The action has been taken in the case of Amit Katyal and the company, alleging siphoning and illegal diversion of plot buyers’ money after collecting the funds without having any licence from the Directorate of Town and Country Planning (DTCP) in its name.
The ED had conducted searches on two premises on October 18, during which it seized ₹35 lakh in cash. Subsequently, it arrested another accused named Rajesh Katyal
The money-laundering probe is based on multiple cases registered by the Gurugram police and the Economic Offences Wing of the Delhi police, against Mr. Amit Katyal, Mr. Rajesh Katyal, and their associates.
It was alleged that Krrish Realtech and Brahma City – engaged in real-estate business – cheated numerous investors and illicitly transferred hundreds of crores abroad through a coordinated scheme.
“ED investigation revealed that Rajesh Katyal is the one of the a key conspirator in collection and diversion of hundreds of crores from prospective buyers on the pretext of allotment of plots by entering into agreements with such prospective plot buyers on the basis of a DTCP licence in the name of a different company,” said the agency.
Stating that such “fraudulent” collection of funds against a company without any licence was deemed to be illegal by DTCP in its order dated February 10, 2022, the ED said the accused persons laundered over ₹200 crore through their companies, particularly through Mr. Rajesh Katyal-controlled Mahadev Infrastructure.
Published – October 22, 2024 06:49 pm IST