New Delhi:
The Enforcement Directorate (ED) seized 9 immovable properties worth Rs 30.5 crore of Kalpatar Group and its related institutions under the Money Laundering Prevention Act (PMLA). These properties are residential and commercial plots located in Mathura, Uttar Pradesh.
This action was taken on the basis of several FIRs registered in various states of the country. ED investigation revealed that Kalpataru Buildtech Corporation Limited (KBCL) and its directors/agents/managers raised Rs 681 crore from people in the name of residential and commercial plots. These directors and agents manipulated investors in returning money or allocating plots.
The money collected was used to create properties and in the name of companies of Kalpataru Group and their directors/agents. Earlier, ED seized 400 immovable properties, which cost Rs 83.96 crore. Apart from this, on 13 September 2024, ED filed a charge sheet against Jai Kishan Singh Rana and his 29 other associates in a special court in Ghaziabad, including 20 Kalpatar Group companies. The court took cognizance of this complaint on 03 October 2024.
On 18 December 2024, the ED raided 16 residential and office premises associated with the Kalpataro Group, in which several documents related to investment and unaccounted cash were seized.