The Enforcement Directorate (ED) has filed a supplemental chargesheet in the money laundering case against M/s Sat Pushpanjali Realms and InfraTech Pvt. Ltd. and others, which will be heard on November 18, 2023, before the Honorable Special Court, PMLA, Dehradun. The chargesheet has been accepted by the Honorable Court.
The ED launched an investigation into the incident on July 8, 2020, at the Pulwalsi Station in Dehradun, based on an FIR lodged by the Central Bureau of Investigation (CBI). In this FIR, it was claimed that despite completing full payments, overseas customers of M/s Sat Pushpanjali Realms and InfraTech Pvt. Ltd were not given possession of their units. The ED launched an investigation to look into the accusations.
During the ED investigation, it was discovered that the company’s overseas customers were provided flats in the form of booking confirmation without actual possession, and the cash obtained was used for reasons other than the flats’ construction. The monies were allegedly used by the offshore buyers to purchase agricultural land in their own and family members’ names.
Following that, the Enforcement Directorate conducted a thorough investigation by the terms of the Prevention of Money Laundering Act, of 2002. Following the investigation, notices were issued on October 12, 2023, to Shri Rajpal, Director, M/s Sat Pushpanjali Realms and Infratech Pvt. Ltd., and Ms. Shefali, Director, respectively. Both are currently being held in preventive detention.
The Enforcement Directorate has provisionally attached assets worth 31.15 crores belonging to M/s Sat Pushpanjali Realms and InfraTech Pvt. Ltd. and its international buyers as part of the attachment proceedings. According to the directions of the competent authorities, the company’s fixed assets have already been attached under the terms of the PMLA, 2002. After reviewing the facts and submissions, the Honorable Adjudicating Authority confirmed the attachment of the aforementioned assets.
