31 , March , 2022
Under the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate (ED) has provisionally attached immovable properties worth over Rs 31 crore belonging to Uttarakhand-based Pushpanjali Realms and Infratech Limited and the wife of the real estate firm’s director Rajpal Walia.
A money laundering investigation was initiated by the ED based on an FIR lodged at the Rajpur police station in the city in July 2020 against the firm, its directors and others under various sections of the Indian Penal Code (IPC) for cheating and duping innocent flat buyers after taking advance payments from them for booking flats in respect of the company’s construction projects, revealed agency sources.
During the investigation, it was unearthed that the advance booking amount received from the home buyers was diverted by the directors of the company for other purposes and invested in buying properties in their own names and those of their family members, the sources said.
In fact, funds worth Rs 31.15 crore are involved in the matter, they added.
Correspondingly, immovable properties worth Rs 31.15 crore in the form of land belonging to the company and a residential house and a flat belonging to Walia, which were transferred to his wife, were attached under the provisions of the PMLA, informed the sources.
Further probe in the case is underway.
(WITH INPUTS TAKEN FROM PTI)
