New Delhi [India], September 22 (ANI): Enforcement Directorate (ED) on Tuesday conducted search and survey operations at 26 premises across Delhi, Chandigarh, Haryana and Punjab in connection with a money laundering case relating to Tirupati Infraprojects Pvt Ltd, officials said.
The search operation is underway under the Prevention of Money Laundering Act, 2002, covering premises of suspects in Delhi; Chandigarh; Haryana's Panchkula; and Punjab's Mohali and Ludhiana in the case.
Officials said the action covers the promoters, directors and associated persons of Tirupati Infraprojects Pvt Ltd, Remigate Buildestates (India) Pvt Ltd, MB Infrabuild Pvt Ltd, Mera Baba Reality Associates Pvt Ltd and Mera Baba Infrastructure Pvt Ltd.
Simultaneously, surveys under Section 16 of the PMLA, 2002 are being conducted at the offices of the Greater Mohali Area Development Authority (GMADA) and of the Department of Housing and Urban Development, Government of Punjab, to gather evidence from the accused entities with GMADA.
Tirupati Infraprojects Pvt Ltd is also an accused in Central Bureau of Investigation (CBI) and the ED cases, which is involved in a bank fraud to the tune of Rs 290 crore concerning a project, Radisson Blu hotel at New Delhi's Paschim Vihar.
Officials said the investigation under the PMLA has revealed that the promoters of Tirupati Infraprojects Pvt Ltd also control entities Remigate Buildestates (India) Pvt Ltd and MB Infrabuild Pvt Ltd, which acquired two prime auction sites at Mohali from GMADA and thereafter obtained substantial financial relief in respect of the dues payable to the authority.
As per the officials, the suspected "undue gain to the companies and the loss to the exchequer is more than 100 crores."
ED is also searching a consultancy firm, Tila Consultants and Contractors Pvt Ltd, an entity dealing with various consultancy works of GMADA and is suspected to be acting as an intermediary in the scam. (ANI)
ED raids 26 places in Delhi, Chandigarh, Haryana and Punjab in money laundering case linked to Tirupati Infraprojects Pvt Ltd
