Under the terms of the Prevention of Money Laundering Act, 2002, the Directorate of Enforcement (ED) has temporarily attached immovable properties worth Rs. 5.37 Crore belonging to Hemkunt Foundation in Distt. Khandwa, MP on 09.05.2023.
An investigation was launched against Hemkunt Foundation under the provisions of the PMLA, 2002, based on an FIR filed by the Special Cell of the Delhi Police, alleging that Hemkunt Foundation raised crores of rupees from individuals and corporates in the name of Covid relief and Oxygen supply during the peak of the second wave of Covid-19, but the donation was syphoned off and used for personal gain.
An investigation conducted by the Directorate under the provisions of the PMLA revealed that during the second wave of Covid-19, Hemkunt Foundation collected huge donations to the tune of Rs. 77.10 Crore from large corporates and the general public under the guise of providing relief to people suffering from COVID-19. The majority of the monies received by Hemkunt Foundation were diverted to the foundation’s assets, such as FDs (Rs. 17.32 Crore), acquiring land in Gurugram (Rs. 43 Crore), and spending on land purchase and building operations in Madhya Pradesh (Rs. 5.37 Crore).
During the course of the inquiry, the ED had already attached the abovementioned land worth Rs. 43 Crore and frozen the fixed deposits of Rs. 17.32 Crore. With the current attachment of land and buildings worth Rs. 5.37 crore, the ED has attached/frozen assets worth Rs. 65.69 crores in this case, reflecting the proceeds of crime. More research is being conducted.
