ED’s large motion in opposition to ‘Three C Promoters’, property value Rs 75.16 crore hooked up INA NEWS

Lucknow, January 9 (.). The Enforcement Directorate (ED) has hooked up property value Rs 75.16 crore in a significant cash laundering case. This motion has been taken underneath the Prevention of Cash Laundering Act (PMLA), 2002.

ED has taken this motion in opposition to M/s Three C Promoters and Builders Non-public Restricted (Three C Promoters), M/s Three C Infratech Non-public Restricted and different group corporations. The entire properties of agricultural land in Ambala and Mohali and business, institutional land, and under-construction residential flats in Noida within the identify of those corporations have been seized. This motion relates . the fraud dedicated by M/s Hacienda Tasks Non-public Restricted and its promoters/administrators.

The Enforcement Directorate had initiated this investigation on the idea of instructions from the Allahabad Excessive Courtroom and an FIR registered by the Financial Offenses Wing (EOW). In these FIRs, M/s Hacienda Tasks Non-public Restricted and its promoters/administrators had been accused of defrauding buyers and residential patrons by taking cash and never giving them flats. The investigation revealed that the Lotus 300 challenge situated in Sector 107, Noida, was began in 2010-11 on 67,941.45 sq. meter land, during which the challenge couldn’t be accomplished even after elevating funds from buyers. Due . misappropriation of funds the challenge lacked the required monetary assets and finally the challenge remained incomplete, ensuing within the chapter of the corporate.

ED carried out raids between 17 and 20 September 2024 at numerous premises of administrators and promoters of M/s Three C Group. Throughout this, money, diamonds and jewelery value Rs 42 crore, objectionable paperwork and digital units had been seized. Moreover, it additionally emerged that a lot of the funds given . M/s Three C Common Builders Non-public Restricted got . numerous different group corporations within the type of unsecured loans. The quantity was used . buy immovable properties in Punjab and Noida, UP.

The ED had earlier issued a provisional attachment order on this case on October 28, 2024, attaching agricultural lands and industrial plots in Hoshiarpur, Fatehgarh Sahib and Mohali in Punjab, with a complete worth of Rs 23.13 crore. The entire worth of property to date has been Rs 98.29 crore. The Enforcement Directorate has clarified that if any lapse is discovered, strict motion shall be taken in opposition to it. The investigation into the case is ongoing and it’s anticipated that extra properties could also be seized quickly.

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ED’s large motion in opposition to ‘Three C Promoters’, property value Rs 75.16 crore hooked up

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