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ED attaches property in a cheating case in Ooty

29/11/2019

New Delhi, Nov.29 (HS): Enforcement Directorate (ED) has provisionally attached immovable property in the form of Agricultural land spread in surveys no. 251/1A, 251/1B, 657/2 and 657/4 situated at Ooty Village, Doddabetta Panchayat, Nilgiri District of Tamilnadu totaling Rs. 6.97 crores in a “Flat Buyer’s cheating and fraud case”, under Prevention of Money Laundering Act, 2002 (PMLA). 


Investigation was initiated based on the FIRs registered with Rama Murthy Nagar, Police Station, Bengaluru. The investigation was carried out based on the allegation that Deepak Kumar Singh and Prakaash Kumar Singh, Directors of the M/s. Sovereign Developers and Infrastructure Limited (SDIL) had made false promises and collected money from buyers and made sale agreements with them but had failed to handover the flats within the stipulated period. 

Furthermore, they demanded more money over and above the agreement amount from the buyers as escalation charges and had also not paid relevant taxes, fees, charges to the concerned departments.
Investigation under PMLA revealed that the accused persons have purchased immovable property by diverting the fraudulently collected amount from the gullible residential flat buyers thereby committing the offence of Money Laundering. 

In this manner amount of Rs. 6.97 crores was trasferred for purchase of agricultural land in Nilgiri District of Tamilnadu held in the name of the Partnership firm where the directors of the said company are the partners, which is a Proceeds of Crime and accordingly the same has been provisionally attached under PMLA.
Further investigation in this case is under progress.

Hindusthan Samachar/Pramod


 
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