New Delhi [India], January 16 (ANI): The Enforcement Directorate (ED) has attached immovable properties worth Rs 224.08 crore in the form of under-construction luxury hotel projects and leasehold rights over four acres in Sri Lanka among others in the case of Krrish Realtech Pvt Ltd and businessman Amit Katyal in the alleged land for railway jobs scam in which former railway minister Lalu Prasad too is an accused.
As per the ED, these under-construction luxury hotel projects and leasehold rights over four acres are situated at 1, Colombo in Sri Lanka.
The agency also attached land rights of Vicinity Hotels Pvt Ltd in the name of Good Earth Business Park Pvt Ltd, measuring 2.825 acres situated at Sector 66 in Haryana’s Gurugram.
ED’s Gurugram Zonal Office attached these properties in connection with the alleged ‘Land for Job’ scam, under the Prevention of Money Laundering Act (PMLA), 2002 on January 15.
ED initiated an investigation on the basis of multiple First Information Reports (FIRs) registered by the Gurugram Police and Economic Offences Wing (EOW), New Delhi, under various sections of the Indian Penal Code, 1860, against Amit Katyal, Rajesh Katyal, and their associates, wherein it is alleged that both Krrish Realtech Pvt Ltd and Brahma City Pvt Ltd, engaged in real estate business, have defrauded numerous investors and illicitly transferred hundreds of crores abroad through a coordinated scheme involving cheating, deception and fraud.
ED said that Krrish Realtech Pvt Ltd allegedly duped and defrauded numerous plot buyers by resorting to cheating and misrepresentation of facts relating to the project.
“The company floated a project to provide residential plots at the centre of Gurgaon. However, despite the laspe of more than 13 years no plots were provided to the plot buyers. The company had collected hard earned money of Rs 503 crore belonging to innocent plot buyers,” said the Federal agency.
ED investigation revealed that “the promoter of the company Amit Katyal willingly siphoned off funds, collected from various plot buyers and investors, overseas in a Sri Lankan company namely The One Transworks Square (Pvt) Ltd Formerly Krrish Transworks Colombo (Private) Limited which was developing a luxury real estate project in Sri Lanka.”
“For the said purpose the promoter has resorted to diversion layering and concealment of funds and projected the funds as legitimate income. Therefore, Proceeds of Crime (POC) to the tune of Rs. 205 crore in Colombo, Sri Lanka in the form of Land measuring four acres and the undivided share of building and structure over constructed share has been attached by ED,” it said.
Further, ED said, during investigation it was revealed that the accused have also siphoned off funds into a company named NCR Business Park Private Limited, now known as Good Earth Business Park Private Limited.
“The said siphoning done by the accused is the proceeds of crime collected from various plot buyers and investors through diversion and layering. Thus, POC to the tune of Rs 19.08 crore in the form of land measuring 2.825 acres situated at village Badshahpur and village Ghasola, Sector 66, Gurugram in the name of the Good Earth Business Park Private Limited earlier known as NCR Business Park Private Limited has also been attached by ED,” the agency added.
The ED had earlier attached various properties valuing Rs 173.07 crore following attachment orders dated August 6, 2024 and October 17, 2024. (ANI)
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