ED raids Punjab-basically based fully mostly proper estate crew, seizes Audi automobile, Rs 85 lakh cash
An Audi automobile, Rs 85 lakh in cash and documents hang been seized one day of fresh raids against a Punjab-basically based fully mostly proper estate crew in reference to a money laundering case linked to alleged cheating of homebuyers, the ED acknowledged on Tuesday.
The searches hang been applied on June 3 against Gupta Builders and Promoters Pvt. Ltd., its administrators Satish Gupta, Pardeep Gupta, their pals Bajwa
, Kumar Builders, Vinmehta Motion footage Pvt. Ltd. and residences of their administrators Jarnail Singh Bajwa, Navraj Mittal, Vishal Garg and others at 19 areas in Chandigarh, Ambala, Panchkula, Mohali and Delhi, it acknowledged in a press liberate.
The money laundering case stems from a Punjab Police FIR against the accused who are alleged to hang “duped and cheated” homebuyers/investors by neither handing over flats, plots, industrial items nor returning their monies to the tune of Rs 325 crore in connivance with varied other persons.
The probe stumbled on that the “funds obtained from homebuyers for pattern of residential and industrial initiatives hang been siphoned off by administrators of the firm in connivance with their pals and others and hang been invested in engage of assorted private resources.”
“Incriminating documents pertaining to movable and immovable properties, unaccounted cash of Rs 85 lakh and a Audi Q7 automobile hang been seized (one day of the raids),” the company acknowledged.
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