The Enforcement Directorate has attached a property in Maharani Bagh connected to the Amrapali Group’s alleged financial misconduct (File photo)
The investigation was initiated on the basis of 18 FIRs registered by the Uttar Pradesh Police and the Economic Offences Wing (EOW) of the Delhi Police against Amrapali Group companies and their directors and promoters, according to the agency.
The ED further found that a portion of the diverted funds was allegedly transferred, both directly and through family members of Anil Kumar Sharma, managing director of the Amrapali Group, to Surbhaee Advertising Pvt. Ltd. in the form of loans.
LUCKNOW: The Enforcement Directorate (ED) has provisionally attached an immovable property worth Rs 54.71 crore in Maharani Bagh, New Delhi, in connection with a money laundering investigation into the Amrapali Group and its promoters over the alleged diversion of thousands of crores of rupees collected from homebuyers. The money laundering investigation revealed that funds collected from homebuyers were allegedly diverted to shell companies and other group entities before being siphoned off by the group’s directors under the guise of professional fees.
Further investigation into the case is underway, the ED said. The latest attachment is part of the agency’s ongoing investigation into the alleged diversion of homebuyers’ money by the Amrapali Group and the tracing of assets acquired using the proceeds of the alleged offence.