Hyderabad: The Enforcement Directorate (ED) has frozen the bank accounts of Salarpuria Sattva Group having financial dealings with Heera Gold, which was involved in fraud by collecting thousands of crores of deposits by promising high-interest rates.
The ED disclosed on Wednesday that they have frozen Rs. 49.99 crores in 316 bank accounts belonging to the Salarpuria Sattva Group, which is a Bangalore-based firm involved in construction business. Based on the information, the ED conducted searches in the offices of this group in Rayadurgam, Hyderabad, and then its respective accounts were frozen. Also, Rs. 29 lakh cash and foreign currency was seized.
The case of the Salarpuria Sattva group came to the fore during the investigation into the diversion of money by Heera Gold after unlawfully collecting deposits. Bangalore-based Neelanchal Technocrats Pvt Ltd also came under the scanner. It has been revealed that Rs. 41 crores has been transferred from the accounts of Heera Gold to several companies in Kolkata and Shillong.
It has been found that these companies belong to the Salarpuria Sattva group. Bijay Kumar Aggarwal was found to be the promoter of this group, while Pradeep Dandhania and Ashwin Sancheti were the directors.
They moved the money for land purchase transactions in Tolichowki, Hyderabad, investigation revealed. It has been revealed that the money transferred from Heera Gold to suitcase companies was returned to the Salarpuria Sattva group through a non-banking finance company registered in Kolkata. Against this backdrop, the ED has announced that the bank accounts of the Salarpuria Satwa group have been frozen.
