₹42 crore assets seized from offices, residences of former top bureaucrat, others
HPPL is accused of defrauding homebuyers of its ‘Lotus 300’ projects an amount to the tune of ₹426 crore
Cash and jewellery worth ₹42.56 crore were recovered after Enforcement Directorate (ED) searched 18 locations in Uttar Pradesh, Delhi, Chandigarh and Goa in connection with a fraud committed by Hacienda Projects Private Limited (HPPL), its promoters. directors and related entities.
The company is accused of defrauding homebuyers of its ‘Lotus 300’ projects an amount to the tune of ₹426 crore, senior ED officials confirmed on Friday. The searches were carried out under the provisions Prevention of Money Laundering Act (PMLA), 2002 on Tuesday and Wednesday. The locations in U.P. were in Meerut and Gautam Buddh Nagar.
A senior ED official said the searches were carried out at the offices and residential premises of the company, promoters and directors of companies, and related entities namely HPPL, M/S Cloud 9 Projects Pvt. Ltd, retired IAS officer Mohinder Singh (the CEO of Noida Authority during the Bahujan Samaj Party government between 2007 and 2012), Surpreet Singh Suri, Vidur Bhardwaj, Nirmal Singh and brothers Aditya Gupta and Ashish Gupta and others.
Mohinder Singh, a 1978-batch IAS officer of the Uttar Pradesh cadre, retired in July 2012. Before his retirement, he was counted among the most powerful bureaucrats in Uttar Pradesh.
{{/usCountry}}Mohinder Singh, a 1978-batch IAS officer of the Uttar Pradesh cadre, retired in July 2012. Before his retirement, he was counted among the most powerful bureaucrats in Uttar Pradesh.
{{/usCountry}}The ED investigation was launched on the directions of the Allahabad high court in 2019 after multiple FIRs were registered by Economic Offence Wing (EOW) in New Delhi against HPPL, its director, officials and others for diverting and siphoning off investors and homebuyers’ money by not providing them the promised apartments.
{{/usCountry}}The ED investigation was launched on the directions of the Allahabad high court in 2019 after multiple FIRs were registered by Economic Offence Wing (EOW) in New Delhi against HPPL, its director, officials and others for diverting and siphoning off investors and homebuyers’ money by not providing them the promised apartments.
{{/usCountry}}He said the Gupta brothers were partners in HPPL, which was associated with Sharada Exports, and they were involved in the construction of residential apartments in Noida. Mohinder Singh was one of the prominent IAS officers then who enjoyed immense clout when BSP was in power in the state.
{{/usCountry}}He said the Gupta brothers were partners in HPPL, which was associated with Sharada Exports, and they were involved in the construction of residential apartments in Noida. Mohinder Singh was one of the prominent IAS officers then who enjoyed immense clout when BSP was in power in the state.
{{/usCountry}}“During the search operations, total cash and jewellery worth ₹42.56 crore in the form of unexplained cash of ₹85 Lakh, gold and diamond jewellery worth ₹29.35 crore, one solitaire diamond worth ₹5.26 crore, diamond jewellery worth ₹7.1 Crore, and many property documents worth crores of rupees were recovered and seized,” the officials added.
In addition, various incriminating documents/evidence (physical/digital) containing details related to siphoning of the investors’ money and money laundering were also recovered and seized, he further stated.
