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Agra builders’ firm booked under PMLA
The Enforcement Directorate (ED) on Monday registered a case under the Prevention of Money Laundering Act (PMLA) against the directors and promoters of an Agra-based builders firm, Kalpturu Buildtech, said officials here on Tuesday
The Enforcement Directorate (ED) on Monday registered a case under the Prevention of Money Laundering Act (PMLA) against the directors and promoters of an Agra-based builders firm, Kalpturu Buildtech, said officials here on Tuesday.
The firm’s directors and promoters, Jai Kishan Rana, Ashok Rana, Manjeet Kumar, Bipin Singh Yadav, Rajkumar Yadav and others associated with the firm had been made accused in the case. The company’s registered office is situated at Friends Tower, Sanjay Palace, Agra, said a senior ED official.
The investigation was taken up on the basis of various FIRs registered at different police stations of Agra and Mathura. The cases were registered against the aforementioned individuals for duping gullible investors by luring them to put money in schemes floated by the firm, said an ED official.
He said the company was building a residential flat complex in Churmura village of Mathura and floated a scheme for pre-booking of flats, assuring buyers that at the time of booking of flats that if they pay a recurring amount per month for a certain period they would have the option of either taking the possession of the booked flat or taking the invested principle along with the interest amount.
Also, the buyer had an option to opt out of the scheme after certain recurring payments. The directors assured the return within a certain period of time, he added.
“When the investors demanded returns on their investments, initially the accused asked for some time to arrange the payment or assured the investors that the flats would be ready shortly. After a considerable amount of time and hassle when the investors demanded their returns, the directors of the company refused to pay them back and threatened them of dire consequences,” he said, adding: “It is gathered that the company followed a similar modus operandi in Panipat, Hisar and other districts of Haryana and duped people there.”
He said the FIRs reported so far suggested that the investors allegedly duped people of around ₹7.39 crore and this amount could be more as there was no mention of the amount in a few FIRs.
“The ED is identifying the movable and immovable properties of the company and related persons. The role of the directors, promoters of the company and other persons will be under scanner and properties earned by them using hard earned money of the public will be attached very soon,” said the official.
