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ED raids Uttar Pradesh realty group in ₹248 crore money laundering probe
The money laundering case follows 87 FIRs by home and commercial buyers since 2021, claiming they were duped and denied possession of their properties.
The Enforcement Directorate on Wednesday conducted searches against an Uttar Pradesh-based realty group as part of a money laundering probe against it for allegedly duping investors to the tune of ₹248 crore, official sources said.
At least eight premises in Lucknow and two in Delhi are being searched in the case against Rohtas Projects Ltd., the sources said. The action is being carried out under the Prevention of Money Laundering Act (PMLA), they said.
The money laundering case stems from as many as 87 FIRs filed by home/commercial space buyers since 2021, alleging they were duped and not given their properties.
As per a forensic audit conducted by the UP RERA (Uttar Pradesh Real Estate Regulatory Authority), the "proceeds of crime" in this case is ₹248 crore, the sources said.
The searches are being conducted with an aim to find evidence and the assets of the promoters for attachment as they are "absconding" since the last four years, the sources claimed.
The promoters of the company have been identified as Piyush Rastogi, Paresh Rastogi and Deepak Rastogi.
The promoters or their legal representatives could not be contacted immediately for a comment on the ED action against them.
