Press "Enter" to skip to content

ED Detains Real Estate Group IREO’s MD Lalit Goyal In $77 Million Money Laundering Case


New Delhi: In a case of money laundering, the Enforcement Directorate (ED) has detained the vice-chairman and managing director of real estate group IREO Lalit Goyal on Friday.

Goyal was arrested on Thursday on his way to immigration authorities at the Indira Gandhi International (IGI) airport based on the ED lookout circular, according to the official sources of PTI. He was supposed to take a flight to the US when his name was flagged, said PTI.

READ: ‘Small Investors Have Got Safe Medium Of Investment In Govt Securities’: PM Modi Launches RBI’s Customer-Centric Schemes

The real estate owner was stopped at the airport for questioning and detained under the provisions of the Prevention of Money Laundering Act (PMLA) by the investigators of their Chandigarh office.

What’s the money laundering case?

The businessman is being investigated in connection to the alleged diversion of an estimated $77 million (one million is equal to 10 lakhs) of home buyers’ funds, investments, and shareholdings to some offshore entities. His name also figured in the ‘Pandora Papers’ global leak of offshore funds. However, Goyal and his legal team had denied any illegalities on their part and have said no funds were diverted abroad in violation of laws.

Meanwhile, in a separate case, the Enforcement Directorate has taken physical possession of a mall worth Rs483 crore, located in Nagpur in connection with an alleged bank fraud case against the Tayal Group of companies. 

The Empress Mall, constructed on a commercially diverted land spread across 2,70,374 square feet, belongs to KSL & Industries Limited, said the agency, according to the ANI report.

The ED probe is based on three First Information Reports (FIR) registered by the Central Bureau of Investigation against three different companies of Tayal Group of companies: Actiff Corporation Limited, Jaybharat Textiles & Real Estate Limited, and KKTL/Eskay Knit (India) Limited. They were accused of cheating the Bank of India and the Andhra Bank of Rs524 crore.

(With PTI inputs)


Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *