CHANDIGARH: Directorate of Enforcement (ED), Gurugram, on Tuesday claimed to have provisionally attached properties of M/s Krrish Realtech Pvt. Ltd., Amit Katyal, and others worth Rs 56.86 Crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
This action was taken in connection with the siphoning and illegal diversion of plot buyers’ money by accepting the same without having any licence from DTCP in its name.
Further, according to a spokesperson, the ED conducted search operations at two premises last Friday, leading to the recovery of Rs 35 Lakh in cash and incriminating material. During the course of the investigation, Rajesh Katyal was arrested on Saturday and produced the same day before the Hon’ble Special Court, Saket, New Delhi. The court granted ED custody for seven days.
The ED initiated the investigation based on multiple FIRs registered by the Gurugram Police and Economic Offences Wing (EOW), New Delhi, under various sections of the IPC, 1860, against Amit Katyal, Rajesh Katyal, and their associates.
It is alleged that both M/s Krrish Realtech Pvt. Ltd. and M/s Brahma City Pvt. Ltd., engaged in the real estate business, defrauded numerous investors and illicitly transferred hundreds of crores abroad through a coordinated scheme involving cheating, deception, and fraud.
The ED investigation revealed that Rajesh Katyal is one of the key conspirators in the collection and diversion of hundreds of crores from prospective plot buyers on the pretext of allotment of plots by entering into agreements with such prospective plot buyers based on a DTCP Licence in the name of a different company.
Such fraudulent collection of funds against a company without any licence was deemed illegal by DTCP in its order dated 10.02.2022. Amit Katyal and Rajesh Katyal laundered the Proceeds of Crime (POC) of more than Rs 200 Crore through their companies, particularly through Mahadev Infrastructure Pvt. Ltd., which was controlled and managed by Rajesh Katyal. Such POC were diverted and appropriated by Amit Katyal and Rajesh Katyal.
The search operation also led to the recovery and seizure of cash amounting to Rs 35 Lakh, with further investigations ongoing.
Further investigation is in progress.
Source Homevior.in
