ED Attaches Rs 557 Crore Assets in Gurugram Money Laundering Case

In a significant move, the Enforcement Directorate (ED) has provisionally attached assets valued at approximately Rs 557.43 crore amid a money laundering probe against Mahira Infratech Pvt Ltd and associated entities, as per an official release. The assets include about 35 acres of residential and commercial land in various sectors of Gurugram, alongside Fixed Deposit Receipts valued at Rs 97 lakh.

The probe traces its origin to multiple FIRs lodged by Gurugram Police, accusing M/s Sai Aaina Farms Pvt. Ltd. and others of cheating and forgery under the Indian Penal Code (IPC). The companies allegedly leveraged forged documents, including counterfeit bank guarantees, to secure licenses necessary for affordable housing projects in Gurugram. Despite collecting over Rs 616 crore from approximately 3,700 homebuyers, the projects remain incomplete, with funds allegedly misappropriated.

Investigators have uncovered a scheme where the involved companies inflated construction costs through fictitious invoices from associated entities, diverting the funds for personal enrichment by directors and promoters. Previously, the ED had attached properties worth Rs 81.07 crore connected to related companies. Arrests have been made, including that of Sikandar Singh, while another accused, Vikas Chhoker, remains on the run.

(With inputs from agencies.)