Money laundering case: ED attaches assets worth ₹56.86 crore in connection with investigations against Krrish Realtech and Brahma City

The law enforcement agency has booked properties belonging to Krrish Realtech Private Limited and others worth ₹56.86 crore for money laundering in connection with allegations of cheating people on the pretext of selling them properties. Photo: Twitter/@dir_ed

The law enforcement agency has booked properties belonging to Krrish Realtech Private Limited and others worth ₹56.86 crore for money laundering in connection with allegations of cheating people on the pretext of selling them properties.

The lawsuit was filed in the case of Amit Katyal and the company alleging siphoning and illegal diversion of money from property buyers after the funds were collected without a license from the Directorate of Town and Country Planning (DTCP) on their behalf.

The ED had conducted searches at two premises on October 18 and seized ₹35,000 in cash. It then arrested another accused named Rajesh Katyal

The money laundering investigation is based on several cases registered by the Gurugram Police and the Economic Crimes Wing of the Delhi Police against Mr. Amit Katyal, Mr. Rajesh Katyal and their associates.

It was alleged that Krrish Realtech and Brahma City – which are into the real estate business – defrauded numerous investors and illegally transferred hundreds of crores abroad as part of a coordinated scheme.

“ED investigations revealed that Rajesh Katyal is one of the main conspirators in collecting and diverting hundreds of crores from potential buyers on the pretext of allotment of land by entering into agreements with such potential land buyers on the basis of DTCP license,” the name said another company,” the agency said.

Noting that such “fraudulent” collection of funds against an unlicensed company was found to be illegal by the DTCP in its order dated February 10, 2022, the ED said the accused persons had control over their companies, particularly through Mr. Rajesh Katyal controlled Mahadev infrastructure.