New Delhi:
The Enforcement Directorate (ED), Kolkata has provided 707 acres of land, which costs about Rs. 1,460 crore in Aamby Valley City, Lonavala as part of its ongoing investigation in the alleged money laundering activities of Sahara Group. The land purchased in benami names was funded through the funds diverted from Sahara group institutions.
“The Enforcement Directorate, Kolkata, has attached provisionally attached land in Ambi Valley City and in its surrounding 707 acres of land, the Money Laundering Act (PMLA) in Lonavala, in 2002, in 2002, Sahara India and its group entities are estimated at Rs 1460 crore under the provisions of prevention of Money Laundering Act (PMLA) with Money Laundering Act (PMLA).
Ed made M/s Humara India Constion Competeable Society Ltd. (HICCSL) and started an investigation against other people on the basis of U/S 420 and 120B IPC, three FIRs registered U/S 420 and 120B.
“In addition, more than 500 FIRs were lodged against Sahara group institutions and concerned persons, with more than 300 people who are registered for offenses set under PMLA, 2002, forced to pay the funds on allegations that depositors were cheated to deposit funds, without their consent.”
ED investigation has revealed that Sahara Group HICCSL, Sahara Credit Cooperative Society Limited (SCCSL), Saharayan Universal Multipurpose Cooperative Society (SUMCS), Stars Multipurpose Cooperative Society Limited (SMCSL), Sahara India Corporate Corporation LTD (Sicarancl), Sahara Indida Asttays Ltd, Sahar (SHICL) and other Sahara group institutions.
“The group has cheated depositors and agents by giving permission with high returns and commissions respectively and used funds collected in a non-regulated manner without any information or control of depositors,” read by release.
In addition, he avoided repayment and instead forced the depositors to recreate their maturity amount, switch /transferred deposits from one plan to another and unit.
“To tamper the non-euphemism, the group manipulated the books of accounts to show repayment in a plan, treated rebellion in another scheme as re-rebuilding in another scheme. To end the Ponzi plan, they continued to accept the assets of the group despite not being able to repay the existing maturity amount, despite not being able to repay the current maturity amount. Revealed in the changed cash has obtained part of the payment, making the depositors denied their correct claims, “the release was read.
During the investigation, statements of various persons, including depositors, agents, Sahara group employees and other persons, have been recorded under Section 50 of the PMLA. In addition, the PMLA was discovered under Section 17, in which an unemployed cash worth Rs 2.98 crore was seized.
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