New Delhi: Enforcement Directorate (ED) has provisionally attached movable and immovable properties worth Rs 29.45 crore belonging to Alchemist group companies during its investigation in an alleged money laundering case, the Central probe agency claimed on Saturday.
The attached properties include an aircraft Beech King Air C-90A, flats and land situated in Himachal Pradesh's Shimla and Sirmaur districts, Madhya Pradesh's Katni and Haryana's Pachkula district, belonging to The Alchemist group, which is headed by former AITC Rajya Sabha MP Kanwar Deep Singh, ED said in a communique.
"A total of 18 flats have been provisionally attached by ED which were purchased by Alchemist Realty Ltd in the Parsvnath Royale Project in Panchkula, Haryana. Further, land measuring around 250 bighas and 78 bighas situated in Keonthal, Shimla Rural district and Sirmaur district, Himachal Pradesh respectively has been attached," ED added.
Investigations into the matter were initiated by the ED on the basis of FIRs registered under various sections of IPC against multiple individuals and group companies of Alchemist Group, by CBI, Lucknow, Kolkata Police and Uttar Pradesh Police.
ED investigations revealed that Alchemist Group allegedly collected funds amounting to more than Rs 1800 crore from investors in its companies namely Alchemist Holdings Limited and Alchemist Township India Limited on the false promise of providing high returns and flats, villas, plots at high rate of interest on their investments. However, investors were allegedly never returned their money and the funds were siphoned off to various group companies of Alchemist Group, the probe agency claimed.
It has further come to light that the group had floated a number of companies in various fields for acquiring properties out of the proceeds of act it acquired from the victims on alleged false promises. It has also been revealed that huge parcels of land were allegedly purchased by Alchemist group in the name of third parties so as to camouflage and mask the real ownership of such properties, it added.
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