ED raids Noida realty group in money laundering case
The Enforcement Directorate has raided a mall in Greater Noida and other locations as part of a money laundering probe against a Noida-based real estate firm
New Delhi, Apr 10 (PTI) The Enforcement Directorate on April 10 raided a mall in Greater Noida and some other locations as part of a money laundering probe against a Noida-based realty group accused of cheating homebuyers of funds worth about ₹40 crore, official sources said.
The action is being undertaken against Bhasin Infotech and Infrastructure Pvt. Ltd., its director and promoter Satinder Singh Bhasin and some others, the sources said.
The company or its directors could not be contacted for a response on the ED action.
Premises in Greater Noida, including that of the Grand Venice Mall, Noida, Delhi and some in Goa, are being searched by the officials of the federal probe agency under the Prevention of Money Laundering Act (PMLA), they said.
The ED probe stems from about 40 police FIRs filed against the company and its promoters by the investors who allegedly did not get their homes as promised.
The estimated amount "cheated" from the investors is about ₹40 crore, the sources said.
