2 hrs ago
ED Attaches Rs 54 Crore Delhi House in Amrapali Case
The Enforcement Directorate is investigating the Amrapali Group over money collected from people who wanted to buy homes.
The agency says some of that money was moved through companies and used in connection with a house in Delhi.
It has temporarily attached the house, which it values at Rs 54.71 crore.
The investigation follows 18 police complaints about housing projects in Noida and Greater Noida.
The complaints said buyers were promised flats within 36 months.
The ED says the projects remained unfinished and buyers did not receive homes or refunds.
The company did not immediately comment on the allegations.
The Enforcement Directorate provisionally attached a house in Delhi’s Maharani Bagh valued at Rs 54.71 crore.
The action is part of a money-laundering investigation into the Amrapali Group and alleged fraud involving homebuyers.
The ED said a forensic audit found more than Rs 5,000 crore in homebuyer funds was diverted through shell and group companies.
The agency said some funds were routed to Surbhaee Advertising through Anil Kumar Sharma and family members and used in connection with the property.
The case stems from 18 FIRs alleging that housing projects in Noida and Greater Noida were not completed and buyers were not given possession or refunds.
- Who
- The Enforcement Directorate and the Amrapali Group; the investigation also concerns Managing Director Anil Kumar Sharma.
- What
- The ED provisionally attached a house valued at Rs 54.71 crore in a money-laundering investigation.
- Where
- A-3 (New), Maharani Bagh, Delhi; the related housing projects were in Noida and Greater Noida.
- When
- The report is dated October 9; it does not specify the year.
- Why
- The ED identified the property as alleged proceeds of crime, saying funds from homebuyers were diverted and used in connection with it.
ED’s allegations
Company response
Use of homebuyer funds
ED’s allegations
The ED said a forensic audit found more than Rs 5,000 crore was diverted through shell and group companies, with some funds used in connection with the Delhi property.
Company response
The report said an immediate comment from the company on the ED’s charges could not be obtained.
Housing projects and buyer losses
ED’s allegations
The ED said projects remained incomplete and homebuyers were neither handed possession nor refunded their money.
Company response
The report provides no response from the company to these allegations.
Key facts
- Attached property
- A house at A-3 (New), Maharani Bagh, Delhi
- Property value
- Rs 54.71 crore
- Action
- Provisional attachment by the ED’s Lucknow zonal office
- Investigation law
- Prevention of Money Laundering Act (PMLA)
- FIRs cited
- 18 FIRs filed by Uttar Pradesh Police and Delhi Police’s Economic Offences Wing
- Funds cited by ED
- More than Rs 5,000 crore in homebuyer funds were allegedly diverted
- Company response
- An immediate comment from the company could not be obtained
Sources
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