The Directorate of Enforcement (ED) has filed a Prosecution Complaint on 18.11.2023 before the Special Court (PMLA), Dehradun, against the directors of M/s Pushpanjali Realms & Infratech Ltd. and others. This legal action stems from a case involving the alleged cheating and duping of innocent flat buyers. The Court has duly acknowledged the Prosecution Complaint.
The investigation initiated by ED was prompted by an FIR registered by the Rajpur Police Station, Dehradun, against M/s Pushpanjali Realms and Infratech Ltd., its Directors, and others under various sections of the IPC related to cheating and duping innocent flat buyers who made advance payments for booking flats in the company’s construction projects.
ED’s in-depth investigation has unveiled that the advance booking amounts received from flat buyers were illicitly diverted by the company’s Directors for personal use. Shockingly, the funds were invested in the purchase of properties both in their names and those of their family members. The total proceeds of this financial misconduct amount to a staggering Rs. 31.15 Crore.
Earlier in the investigation process, ED had arrested Rajpal Walia, director of M/s Pushpanjali Realms & Infratech Ltd., and Shefali Walia on 12.10.2023 and 23.09.2023, respectively, under the Prevention of Money Laundering Act (PMLA), 2002. Both individuals are currently under judicial custody. The ED had previously attached immovable assets totaling Rs. 31.15 Crore of M/s Pushpanjali Realms and Infratech Ltd. and its directors under the provisions of PMLA, 2002. This attachment has been confirmed by the Adjudicating Authority.
This proactive stance by the Enforcement Directorate underscores its commitment to swiftly address financial malpractices and protect the rights of innocent investors.
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