Delhi : The Enforcement Directorate (ED) has attached properties worth Rs 147.81 crore belonging to real estate company Gupta Builders and Promoters (GBPPL), its directors and their associates, the agency said on Thursday.
These attached properties include commercial spaces, residential house, agriculture land and bank account belonging to GBPPL, its directors -- Satish Gupta and Pardeep Gupta, and their associates -- Anupam Gupta and Navraj Mittal. These properties have been attached by ED under the Prevention of Money Laundering Act (PMLA), 2002.
The ED initiated money-laundering investigation on the basis of first information reports (FIRs) registered by Chandigarh and Punjab Police against Gupta Builders and Promoters Pvt Ltd; its directors and others.
"Investigation by ED revealed that an aggregate amount of Rs 478 crore was collected by the company from buyers. They duped innocent buyers by promising them to deliver flats/plots/commercial spaces. However, they neither delivered the projects nor returned their money," the ED said in a statement.
The investigation conducted by ED further revealed that the directors of GBPPL, in connivance with other persons, siphoned off money collected from home-buyers. This money through web of fraudulent transactions invested in various movable and immovable properties which are proceeds of crime and the same are provisionally attached.
Earlier ED seized various incriminating documents and movable assets during searches carried out on June 3 at various premises of the persons involved in this case. (ANI)
