Audi car, Rs 85L cash seized as ED raids Punjab-based real estate group
The searches were carried out on June 3 against Gupta Builders and Promoters Pvt. Ltd., its directors Satish Gupta, Pardeep Gupta, their associates Bajwa Developers Ltd, Kumar Builders, Vinmehta Films Pvt. Ltd.
HIGHLIGHTS
- The raids were conducted in a case linked to alleged cheating of homebuyers
- An FIR was earlier filed with the Punjab Police, against the accused
- In the FIR, the builders were accused of duping and cheating homebuyers/investors
The Enforcement Directorate conducted raids against a Punjab-based real estate group in connection with a money laundering case. The raids were conducted in a case linked to the alleged cheating of homebuyers, the ED said on Tuesday.
The searches were carried out on June 3 against Gupta Builders and Promoters Pvt. Ltd., its directors Satish Gupta, Pardeep Gupta, their associates Bajwa Developers Ltd, Kumar Builders, Vinmehta Films Pvt. Ltd. and residences of their directors Jarnail Singh Bajwa, Navraj Mittal, Vishal Garg and others at 19 locations in Chandigarh, Ambala, Panchkula, Mohali and Delhi, it said in a statement.
Following the searches, the agency seized an Audi car, Rs 85 lakh in cash and documents.
An FIR was earlier filed with the Punjab Police, against the accused who are alleged to have “duped and cheated” homebuyers/investors by neither delivering flats, plots, commercial units nor returning their amount to the tune of Rs 325 crore in connivance with various other persons.
