New Delhi, Oct 18 The Enforcement Directorate (ED) on Wednesday said that it has arrested Rajpal Walia, Director of Dehradun-based realty firm Pushpanjali Realms and lnfratech Limited in a money laundering probe linked to a case of cheating homebuyers.
The financial probe agency said that Walia was arrested by the ED under the Prevention of Money Laundering Act (PMLA) and a Special Court PMLA in Dehradun has sent him to five days of ED custody till October 23.
The ED case is based on the FIR registered at Dehradun's Rajpur police station against Pushpanjali Realms and lnfratech Limited, its Directors and others under various sections of the IPC for cheating and duping flat buyers after taking advance payments for booking of flats in respect of construction projects of the company in July 2020.
The agency said that its probe revealed that the "advance booking amount received from the flat buyers were diverted by the directors of the company for other purposes and invested the same in purchase of properties in their name and in the name of their family members".
The ED has found that total proceeds of crime in this case are Rs 31.15 crore.
The ED had attached the immovable properties worth Rs 31.15 crore of the company and Walia's wife last year. The adjudicating authority has confirmed the attachments by the ED in the case.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor