: The Enforcement Directorate has provisionally attached assets worth ₹944 crore held by Piyush Colonisers Limited, its former promoters and associated entities, in connection with the an alleged cheating case.
The properties include land parcels, flats, and commercial space located in Haryana’s Faridabad, Palwal, Rewari and Bhiwadi. The agency has also filed a prosecution complaint against Amit Goel, former promoter of Piyush Colonisers Limited, and others.
ED searches premises linked to Piyush Group in alleged real estate fraud case
The agency’s probe under the Prevention of Money Laundering Act is based on the cases registered by the Delhi Economic Offences Wing, Haryana police, and the Central Bureau of Investigation. “The offences resulted in non-delivery of the units to the buyers of various Piyush Group projects situated in Palwal, Faridabad, Rewari, and Bhiwadi,” said the ED.
There were more than 1500 buyers in the various projects of Piyush Group. The funds received by the group were allegedly siphoned off and routed to its subsidiary companies for subsequent investments in land parcels without completing the existing projects.
