ED Action Money Laundering Case: The Enforcement Directorate (ED) has arrested Gurugram-based M/S Krrish Realtech Pvt. Ltd and its promoter Amit Katyal have seized properties worth Rs 224.08 crore. This action also includes a luxury hotel under construction in Colombo, Sri Lanka and 2.825 acres of land in Gurugram Sector 66, Haryana. These properties have been seized under money laundering charges related to Krish Realtech Private Limited, Amit Katyal and others.
ED has taken this action on the FIR lodged by Gurugram Police and Economic Offenses Wing of Delhi Police. The company is accused of collecting Rs 503 crore from investors by promising to provide residential plots, but did not provide the plots to the buyers even after 13 years. Hundreds of crores of rupees were transferred abroad through this fraud.
Investment in luxury projects in Sri Lanka
According to the investigation, promoter Amit Katyal transferred investors’ money to The One Transworks Square (Pvt) Ltd based in Sri Lanka. This company was working on a luxury real estate project in Colombo. ED has seized 4 acres of land and part of the under-construction building related to this project worth Rs 205 crore as proceeds of crime.
Good Earth Business Park Connection
The investigation also revealed that investors’ money was transferred to Good Earth Business Park Private Limited (earlier NCR Business Park Private Limited). In this connection, ED seized 2.825 acres of land worth Rs 19.08 crore located in Sector 66 of Gurugram.
Action was taken in the past also
Earlier, ED had seized assets worth Rs 173.07 crore on 6 August 2024 and 17 October 2024. ED has taken this action on the basis of FIR registered by Gurugram Police and Economic Offenses Wing of Delhi Police. The investigation in the case is still going on and new revelations are expected.
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