New Delhi [India], August 28 (ANI): The Gurugram unit of the Directorate of Enforcement (ED) has attached assets totalling Rs 294.19 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in the Sunstar Overseas Ltd case, the agency said on Wednesday.
These assets include land, buildings, flats, and fixed deposit receipts (FDRs).
The attached assets include land and building (including agricultural land) of 72 acres worth Rs 210.6 crore at Sonipat, Amritsar and Gurugram; two residential houses in Delhi’s Civil Lines of more than 5000 sq. mtrs. worth Rs 77 crore, four flats at Karnal worth Rs 1.54 crore, bank balance of Rs 1.27 crore, and FDRs worth Rs 3.78 crore.
ED initiated an investigation based on an FIR registered by the Chandigarh branch of the Central Bureau of Investigation (CBI) against Sunstar Overseas Ltd (SOL), its ex-directors namely Rohit Aggarwal, Manik Aggarwal, Sumit Aggarwal and others under various sections of Indian Penal Code (IPC), 1860 for committing fraud, criminal misappropriation, criminal breach of trust, cheating and causing wrongful loss of more than Rs 950 crore to the consortium of nine lender banks.
ED investigation revealed that whereas total admitted claims against SOL were Rs 1,274.14 crore, the entity was taken over through CIRP proceedings only for Rs 196 crore by a resolution applicant Umaiza Infracon LLP (through Ajay Yadav) being a shell entity without having any funds of its own.
During the investigation, ED said, it had already conducted searches under PMLA, 2002 in January 2024 as well as arrested three persons namely Rakesh Gulati, Paramjeet and Ajay Yadav in July 2024. They were found to be involved in the conspiracy and aforesaid diversion of loan funds to regain the actual control and business of an insolvent company from NCLT. (ANI)
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