Enforcement Directorate (ED) on Wednesday raided the premises of real estate company Tulsiani Group at several locations in Uttar Pradesh and Haryana.
The probe agency searched the Uttar Pradesh-based real estate group as part of a money laundering investigation linked to an alleged bank loan fraud and cheating of homebuyers, official sources told news agency PTI.
The raids were conducted in cities including Lucknow, Noida, Prayagraj and Gurugram.
Tulsiani Group CMD Anil Tulsiani and his wife Kavita Tulsiani were the directors of GS Expressway earlier and at present, some family members of BJP MLA from Harraiya (Basti) Ajay Singh hold the position, the report said.
The ED searched the premises to gather evidence of the alleged bank loan fraud and cheating of homebuyers by the Tulsiani Group and its promoters.
Ajay Singh said he got to know about the ED raids at his Lucknow office in the morning.
"I am ready for any investigation... I was raided by the Income-Tax department too about three years back... I am a dedicated soldier of the BJP," he said.
"People say that the BJP only targets opposition parties but with this action against me, this claim has been proven wrong," the politician added.
The money laundering case against the Tulsiani Group and its promoters stems from an Uttar Pradesh Police FIR that was registered on a complaint filed by the Punjab National Bank (PNB). In its complaint, PNB alleged a fraud of Rs 4.63 crore by the company.
Tulsiani, who is also being investigated for duping homebuyers, was arrested by Uttar Pradesh Police and the Allahabad High Court had directed the ED to investigate the case.
The federal anti-money laundering agency suspects that the proceeds of crime in this case are worth about Rs 10 crore.
The realty group has constructed commercial and residential projects in Prayagraj and Lucknow and according to its website, it is undertaking similar projects in Meerut and Gurugram, as per PTI.