ED Raids Properties Linked To Bhutani Group, WTC Builder; Bhutani Infra Says Cut Ties With WTC Already
The Gurugram office of the ED conducted raids at about a dozen locations in Delhi, Noida (Uttar Pradesh), and Faridabad and Gurugram (Haryana).
The Enforcement Directorate (ED) launched multiple search operations on Thursday in the premises of two real estate companies and their promoters in Delhi-NCR as part of a money laundering investigation in connection with the alleged fraud with homebuyers.
The action was taken against WTC Builder, its promoter Ashish Bhalla and the Bhutani Group, among others, officials told news agency PTI.
Under the provisions of the Prevention of Money Laundering Act (PMLA), the Gurugram office of the ED conducted raids at about a dozen locations in Delhi, Noida (Uttar Pradesh), and Faridabad and Gurugram (Haryana).
While filing the story, WTC Builder could not be contacted immediately. In a press statement, Bhutani Infra said that it severed all ties with the WTC Group earlier this month and is now fully cooperating with the Enforcement Directorate (ED) in its investigation. "Having completely withdrawn from any association with WTC in early February, long before the legal and financial issues unfolded, Bhutani Infra remains unconnected to the ongoing controversy," the statement read.
"Despite having no obligations related to WTC, Bhutani Infra recognises the distress experienced by affected customers. The company has been proactively engaging with investors who had placed their trust in WTC, offering support and guidance through these challenging times," the statement added.
The investigation was launched after FIRs were filed by the Faridabad police and the Economic Offences Wing of Delhi Police against WTC Builder, Bhalla and the Bhutani Group, the officials added.
The allegation against the WTC group, which has multiple projects in Faridabad, Noida, and some other locations, that the group has taken over Rs 1,000 crore from investors but has not been delivering the projects for the last 10-12 years, the officials further added.
ED Attaches Assets Worth Rs 8 Crore In Illegal Internet Pharmacy Case In Hyderabad
The Enforcement Directorate on Wednesday (February 26) said it has attached land parcels in Madhya Pradesh and bank deposits worth about Rs 8 crore as part of a probe into a drugs trafficking-linked money laundering case against a Hyderabad-based entity that ran an "illegal" Internet pharmacy.
An order has been issued by the Hyderabad ED office under the Prevention of Money Laundering Act (PMLA) to provisionally attach the properties of JR Infinity Private Ltd., its promoter Aashish Jain and his family members, the federal probe agency said in a statement.
The ED investigation stems from a May 2022 complaint filed against the accused by the Narcotics Control Bureau (NCB).
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