According to the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), the Directorate of Enforcement (ED) has provisionally attached immovable properties worth approximately Rs. 22 crores that were taken from various housing co-operative societies in Indore, Madhya Pradesh on July 28, 2023. This was done in the case of the illegal sale and alienation of the lands of Housing Co-operative Societies. These assets now have a market worth of about Rs 500 crore.
Based on many FIRs filed in Indore, Madhya Pradesh regarding the unlawful sale and alienation of the lands of Housing Cooperative Societies by Dilip Sisodiya alias Deepak Jain Madda in collusion with others, the ED launched an inquiry under the provisions of the Prevention of Money Laundering Act, 2002.
According to an investigation by the ED, the accused in Indore, Madhya Pradesh, unlawfully sold and alienated prime land that belonged to cooperative societies while working together. These properties were first purchased from the State Government by housing cooperative organisations in order to distribute housing lots to their own members. These lands were illegally sold to a number of suspects, inflicting a significant loss on the housing society and depriving its members of their legitimate plots. There have also been some cases of housing societies’ moveable assets, including bank accounts, being stolen in order to commit fraud against the society.
Dilip Sisodiya, also known as Deepak Jain Madda, was detained by the court after being apprehended by the ED on June 3, 2023, in accordance with the PMLA, 2002. Additionally, the Ld. Special Court has received a prosecution complaint in this case from ED. Further research is now being conducted.
