The Enforcement Directorate (ED) has attached properties worth Rs 1,317.30 crore belonging to real estate company IREO Pvt Ltd, its Managing Director cum Vice President Lalit Goyal, associated entities and key managerial persons, the agency said on Saturday.
The properties were attached under the Prevention of Money-Laundering Act (PMLA), 2002. The attached properties include land, commercial spaces, plots, residential houses and bank accounts.
ED initiated an investigation under money laundering on the basis of 30 FIRs under Sections 120-B, 420, 467 and 471 of the Indian Penal Code, 1860 registered at various Police Stations across Gurugram, Panchkula, Ludhiana and Delhi against IREO Pvt Ltd, associated entities, its directors, key managerial persons and others.
The investigation by the ED revealed that they duped the innocent buyers by promising them to deliver flats, plots and commercial spaces, however, they neither delivered the projects nor returned their money.
“Investigation further revealed that the directors of the Company in connivance with others siphoned off money collected from buyers and did not use for the intended purpose rather sending money outside India in the form of buy-back of shares, redemptions and giving loans and advances to associated entities and persons, giving excessive incentives and advances to key managerial persons to fudge the books of account who in turn invested it in purchasing immovable properties and shares of various companies within and outside the country,” said the ED in a statement.
Earlier, the main managerial person Lalit Goyal was arrested on November 16, 2021, and searches were also conducted at the premises of the company and key persons on November 22, 2021. Subsequently, Prosecution Complaint was filed on January 14 this year and a special court had taken cognizance of the same.