Under the Prevention of Money Laundering Act (PMLA), 2002, the Enforcement Directorate (ED) has apprehended Rajpal Walia in connection with the M/s Pushpanjali Realms and Infratech Limited case. The Hon’ble Special Court PMLA in Dehradun has granted the ED custody of the accused for a period of five days, extending until October 23, 2023.
The ED’s involvement stems from an investigation initiated based on an FIR filed by Rajpur PS, Dehradun against M/s Pushpanjali Realms and Infratech Limited, its Directors, and others. The FIR, registered under various sections of the Indian Penal Code, accuses them of cheating and defrauding innocent flat buyers who had made advance payments for booking flats in the company’s construction projects.
The ED’s findings disclose that the advance booking amounts from flat buyers were diverted by the Pushpanjali Realms and Infratech company’s Directors for unauthorized purposes. Instead of utilizing the funds for the intended construction projects, the Directors invested the money in purchasing properties under their names and those of their family members. The total value of the proceeds of crime in this case amounts to Rs 31.15 Crore. The Adjudicating Authority has verified and confirmed the attachment of complete proceeds of crime in the form of immovable properties. Ongoing investigations aim to unravel further details in this complex financial web.
