Lucknow zonal team of Enforcement Directorate (ED) has taken major action against Amrapali Group. ED has provisionally attached the immovable properties of the group worth about ₹99.26 crore. This action was taken under the Prevention of Money Laundering Act (PMLA), 2002. This action of ED is considered to be one of the biggest action taken so far in Amrapali scam.
ED investigation alleges that Amrapali Group directors Anil Kumar Sharma, Shiv Priya and Ajay Kumar along with their associates embezzled the money of flat buyers. It is alleged that even after taking crores of rupees from the flat buyers, the builder has not yet delivered their houses. Apart from this, the builder has also embezzled their money. This step is being considered as a big step for the affected buyers.
Money diverted through shell companies and fake suppliers
Several cases have been registered against Amrapali Group in Delhi Police, Noida and EOW Delhi. Subsequently, the Supreme Court ordered an investigation into the case on July 23, 2019. ED is investigating the entire matter on the basis of cases registered against the group. The investigation revealed that despite charging huge amount from the buyers, Amrapali Group did not hand over the possession of the flats on time and used the money for other purposes.
It is alleged that fraudulent transactions were done in the name of purchasing TMT bars and construction material. This money was laundered through shell companies and fake suppliers, the cash was withdrawn and the proceeds of crime were ultimately liquidated.
ED attached these properties of Amrapali Group
ED has temporarily attached the properties of Amrapali Group’s Maurya Udyog Limited, which includes its office, factory land and buildings. Maurya Udyog Limited is a unit of Sureka Group, and its promoters are Navneet Sureka and Akhil Sureka. According to ED, the current market value of these properties is approximately ₹99.26 crore. These properties are in Noida, Delhi and Gurugram. So far, property worth ₹303.08 crore has been seized in this case. ED believes that these properties were used to hide and launder illegally earned money.
