The Enforcement Directorate (ED) on Thursday said it has attached assets worth more than Rs 147 crore of a Chandigarh-based real estate group which is alleged to have duped many investors of crores of rupees by promising them flats and plots.
The attached properties include commercial spaces, residential houses, agriculture lands and bank accounts belonging to Gupta Builders and Promoters Pvt Ltd (GBPPL), its directors Satish Gupta, Pardeep Gupta and their associates Anupam Gupta and Navraj Mittal, the ED said in a statement.
The total worth of the attached assets is Rs 147.81 crore.
The directors of GBPPL, in “connivance” with other persons, siphoned off money collected from homebuyers, the statement said.
This money through web of “fraudulent” transactions was invested in various movable and immovable properties which are proceeds of crime and the same are provisionally attached, it said.
The probe found that an aggregate amount of Rs 478 crore was collected by the company from buyers and they (company and promoters) “duped” innocent buyers by promising them to deliver flats, plots and commercial spaces, it said.
“However, they neither delivered the projects nor returned their money,” the ED said.
The money laundering case stems from FIRs filed by Chandigarh and Punjab Police against the accused.
The commercial office of the GBP Group is located in Sector 34. The office has been locked for the last one year and a half.
Meanwhile, the Income Tax department has also issued several notices to the promoters of GBP Pvt Ltd for not submitting crucial information to the department.
The promoters of the GBP Group have been booked in more than three dozen cases involving more than 900 complainants for cheating them on the pretext of providing them flats and houses in several housing projects in the Tricity. The promoters of the GBP Group are believed to be in another country.
The cases were registered against them in Chandigarh and Mohali.
With ENS inputs