Luxury Delhi Property Seized in Real Estate Scam Investigation
A property in Delhi valued at over Rs 44 crore has been seized by the Enforcement Directorate due to alleged money laundering linked to a Noida property firm, Bhasin Infotech and Infrastructure Pvt Ltd. The firm and its directors are accused of misleading investors and laundering funds through multiple entities.
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Delhi's real estate market faced a shock as a luxury property worth over Rs 44 crore was seized by the Enforcement Directorate (ED) during an anti-money laundering investigation. The probe targets Bhasin Infotech and Infrastructure Pvt Ltd (BIIPL), a Noida-based realty firm, and its directors.
Originating from several 2015 FIRs filed by Uttar Pradesh Police, the case accuses BIIPL and key figures like Satinder Singh Bhasin, and others, of orchestrating a massive fraud. These individuals allegedly collected substantial funds from investors, promising commercial unit deliveries that never occurred, according to the ED's statement.
Further investigations allege that the funds were mismanaged or redirected through a network of related firms, complicating tracing efforts. ED raids in Delhi, Noida, and Goa confiscated Rs 36 lakh in cash along with important documents and electronic evidence. The exploit involved high-profile figures, including Harpreet Singh Chhabra and Ajay Dhawan.
(With inputs from agencies.)
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