Lucknow (Uttar Pradesh) [India], January 28 (ANI): Directorate of Enforcement (ED), Lucknow Zonal Office has attached nine immovable properties worth Rs 30.5 crore approximately on Tuesday in the name of Kalpataru Group companies and the entities associated with the group under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, the ED said in a press release.
According to an official statement, all the immovable properties are in the form of Residential/commercial land and are situated at Mathura in Uttar Pradesh.
ED initiated investigation on the basis of multiple FIRs registered in many states across India under various sections of the Indian Penal Code, 1860 in relation to several cases of forgery, cheating, embezzlement of funds, etc. by Kalpataru Group and related entities, the statement said.
ED investigation revealed that KBCL (Kalpatru Buildtech Corporation Ltd.) and its Directors/Agents/Managers had collected huge deposits amounting to Rs 681 crore from the public in the name of investment and allotment of residential/commercial plots and later defaulted in payment of maturity amount and allotment of plots and the amount was used for creating assets in the names of the Kalpataru group of companies as well as their Directors/Agents/Managers, the press release said.
During the course of investigation, ED had already attached 400 immovable properties worth Rs 83.96 crore. Same has been confirmed by Adjudicating Authority as well, the statement added.
Further as per the agency, it had filed a Prosecution Complaint (PC) against Jai Kishan Singh Rana and his 29 other associates including 20 Kalpataru group companies under the provisions of the PMLA, 2002 on September 13, 2024 before the Special Court (PMLA), Ghaziabad. The Court has taken cognizance of the PC on October 3, 2024.
Further, a search operation was conducted at 16 residential/office premise of the entities associated with Kalpataru Group on December 18, 2024. As a result of search action various incriminating documents regarding investments and unaccounted cash was seized, the agency added in its statement.
Further investigation is under progress. (ANI)
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