Directorate of Enforcement (ED) has arrested Rajpal Walia, director of Pushpanjali Realms and lnfratech Limited under the Prevention of Money Laundering Act (PMLA), 2002 on charges of cheating and duping flat buyers in Dehradun, the agency said on Wednesday.
The Special Court PMLA, Dehradun has granted ED custody for five days till October 23, 2023.
According to the ED statement, the agency initiated an investigation on the basis of an FIR registered by Rajpur PS, Dehradun against Pushpanjali Realms and lnfratech Limited, its directors and others under various sections of IPC for cheating and duping the innocent flat buyers after taking advance payments for booking of flats in respect of construction projects of the Company.
ED investigation revealed that the advance booking amount received from the flat buyers were diverted by the Directors of the company for other purposes and invested the same in purchase of properties in their name and in the name of their family members.
The statement further mentioned that total proceeds of crime involved in this case are Rs 31.15 crore. Complete POC in the form of immovable properties has been attached which has been confirmed by the Adjudicating Authority, it added.
Further investigation in the matter is underway.