ED attaches Rs 95 cr worth assets of Gurugram realty firm SBPL in PMLA case

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ED attaches Rs 95 cr worth assets of Gurugram realty firm SBPL in PMLA case - Business Standard

Quick Summary:

The Enforcement Directorate on Monday said it has attached assets worth about Rs 95 crore as part of a money laundering investigation against a Gurugram-based real estate company and its promoter on charges of duping more than 950 homebuyers.

A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) for attaching land parcels, residential house and commercial building in Gurugram (Haryana), it said.

The action has been taken against Sidharth Chauhan, promoter of Sidhartha Buildhome Pvt.Ltd.(SBPL), his companies and some other persons, the federal probe agency said in a statement.