An Audi automotive, Rs 85 lakh in money and paperwork had been seized throughout current raids towards a Punjab-based actual property group in reference to a cash laundering case linked to alleged dishonest of homebuyers, the ED mentioned on Tuesday.
The searches had been carried out on June 3 towards Gupta Builders and Promoters Pvt. Ltd., its administrators Satish Gupta, Pardeep Gupta, their associates Bajwa Builders Ltd, Kumar Builders, Vinmehta Movies Pvt. Ltd. and residences of their administrators Jarnail Singh Bajwa, Navraj Mittal, Vishal Garg and others at 19 places in Chandigarh, Ambala, Panchkula, Mohali and Delhi, it mentioned in an announcement.
The cash laundering case stems from a Punjab Police FIR towards the accused who’re alleged to have “duped and cheated” homebuyers/traders by neither delivering flats, plots, business models nor returning their monies to the tune of Rs 325 crore in connivance with varied different individuals.
The probe discovered that the “funds obtained from homebuyers for improvement of residential and business tasks had been siphoned off by administrators of the corporate in connivance with their associates and others and have been invested in buy of varied private belongings.”
“Incriminating paperwork pertaining to movable and immovable properties, unaccounted money of Rs 85 lakh and a Audi Q7 automotive have been seized (through the raids),” the company mentioned.
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