Latest news with #NexaEvergreen
Time of India
a day ago
- Business
- Time of India
ED raids 24 Raj & Guj locations in 2,700 crore Nexa Evergreen scam
Jaipur/Jhunjhunu: The Enforcement Directorate (ED) conducted massive raids across Rajasthan and Gujarat on Thursday in connection with an alleged Rs 2,700 crore money laundering scheme linked to the Nexa Evergreen project. The operation, spanning 24 locations, targeted what authorities describe as a massive real estate fraud that affected approximately 62,000 investors. Till the evening ED has seized almost Rs 2 crores and 3 lakhs and have freezed around 10 bank accounts. The raids, supported by CRPF and local police, were carried out in multiple cities including Sikar, Jaipur, Jodhpur and Jhunjhunu in Rajasthan and Ahmedabad in Gujarat. The ED's investigation stems from multiple FIRs filed with the Rajasthan Police regarding the fraudulent scheme. According to ED officials, the company, registered in Ahmedabad in April 2021, allegedly lured investors with promises of affordable housing and land plots in Gujarat's Dholera Smart City Project. The primary accused, Subhash and Ranveer Bijarniya from Panlawa in Sikar district, specifically targeted govt employees, including police and armed forces personnel, promising high returns on investments. "While some initial investors received property possession, the scheme was later exposed as fraudulent, leaving most investors without recourse," said a senior ED officer in Jaipur. The agency has seized incriminating documents, bank account details, electronic devices and property papers during the raids. "So far we have seized Rs 2 crores and 3 lakhs and have also freezed around 10 bank accounts," said an officer. The scam, which affected around 62,000 people, has already led to hundreds of FIRs across different districts and multiple protests by victims. Both main accused, Ranveer and Subhash Bijarnia, were previously arrested in connection with the case. The ED's investigation continues, with officials stating this is their first major operation since registering the case in early 2024. The agency also raided the premises of Salim Khan, another accused who operated a Nexa Evergreen office in Jhunjhunu's KK Colony, allegedly to attract more investors to the scheme. While the ED has confirmed seizing significant evidence, specific details of the recoveries are yet to be disclosed as the investigation remains ongoing. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
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Business Standard
2 days ago
- Business
- Business Standard
Nexa Evergreen land Scam: ED raids 24 sites across Rajasthan, Gujarat
The Enforcement Directorate (ED) on Thursday conducted a large-scale search operation at 24 locations across Rajasthan and Gujarat in connection with a money laundering case worth ₹2,700 crore linked to the Nexa Evergreen project. 'ED has recorded an ECIR (Enforcement Case Information Report) on the basis of FIRs filed by Rajasthan Police against Nexa Evergreen. They duped investors to the tune of ₹2,700 crore by luring them with promises of high returns and land plots in Dholera city, Gujarat. Searches were conducted at 24 locations in Sikar, Jaipur, Jodhpur, Jhunjhunu, and Ahmedabad,' sources said. The company is accused of defrauding nearly 62,000 individuals, primarily by offering affordable flats and land parcels in Dholera, Gujarat. In cases where land could not be allotted, investors were promised high-interest returns. Although some received possession initially, the scheme was later exposed as fraudulent, leaving most investors without recourse. A senior official told Business Standard that the company had raised around ₹2,700 crore from investors through misleading assurances. The company's promoters, Subhash Bijarniya and Ranveer Bijarniya—both from Sikar in Rajasthan—allegedly targeted both civilians and government employees, including members of the police and armed forces. The duo marketed a scheme that promised to double investments within 14 months. Nexa Evergreen's background Nexa Evergreen Private Limited is a Gujarat-based real estate firm incorporated on 17 April 2021 and registered in Ahmedabad. The company claims to be engaged in buying, selling, and developing residential and commercial land. Separate ED action in Jaypee Group case last month Last month, the ED said it had seized ₹1.7 crore in cash and documents related to immovable assets during raids against Jaypee Infratech Ltd (JIL), Jaiprakash Associates Ltd (JAL), and associated entities in a separate money laundering investigation linked to alleged fraud involving homebuyers. The searches were carried out on 23 May at 15 premises in Delhi, Noida, Ghaziabad, and Mumbai under the Prevention of Money Laundering Act (PMLA). "The search covered offices and premises of JAL, its related entities, and its promoter directors," the agency stated. Searches were also conducted at premises associated with key business partners of JAL, including Gaursons India Pvt Ltd, Gulshan Homz Pvt Ltd, and Mahagun Real Estate Pvt Ltd, the statement added.
NDTV
2 days ago
- Business
- NDTV
Probe Agency ED Raids In Rajasthan, Gujarat In Rs 2,700 Crore Fraud Case
New Delhi: The Enforcement Directorate on Thursday conducted searches in Rajasthan and Gujarat as part of a money laundering investigation into an alleged Rs 2,700 crore fraud with investors, official sources said. The case filed under the Prevention of Money Laundering Act (PMLA) stems from a Rajasthan Police FIR against a company called Nexa Evergreen. The company is alleged to have duped investors to the tune of Rs 2,700 crore by promising higher returns and plots of land in Dholera city of Gujarat, the sources said. About two dozen locations in Sikar, Jaipur, Jodhpur and Jhunjhunu in Rajasthan and Ahmedabad in Gujarat are being searched as part of this probe, they said.
Hindustan Times
2 days ago
- Business
- Hindustan Times
ED raids 24 locations in Raj, Guj in ₹2,700 Cr Nexa Evergreen money laundering case
New Delhi: The enforcement directorate (ED) on Thursday raided 24 locations in Rajasthan and Gujarat in connection with an alleged ₹2,700 crore money laundering case by Nexa Evergreen, people familiar with the development said. The agency started probing after multiple First Information Reports (FIRs) were filed under the Prevention of Money Laundering Act (PMLA) by the Rajasthan Police. Nexa Evergreen had allegedly promised high returns to individuals investing in properties in Gujarat's Dholera Smart City project. 'Raids were conducted at 24 locations in Sikar, Jaipur, Jodhpur and Jhunjhunu in Rajasthan and Ahmedabad in Gujarat under PMLA,' an ED officer said. Also read: Dino Morea smiles, looks relaxed as he arrives at ED for questioning in ₹65 crore Mithi river desilting scam case. Watch The company's promoters, Subhash Bijarniya and Ranveer Bijarniya, both from Sikar in Rajasthan, allegedly targeted civilians and government employees, including police officers and army personnel, by promising to double their money in 14 months. They allegedly laundered ₹2,700 crore before disappearing with the investors' money.
Hindustan Times
2 days ago
- Business
- Hindustan Times
ED raids in Rajasthan, Gujarat over ₹2,700 crore investors 'fraud' case
The Enforcement Directorate on Thursday conducted searches in Rajasthan and Gujarat as part of a money laundering investigation into an alleged ₹2,700 crore fraud with investors, official sources said. The case filed under the Prevention of Money Laundering Act (PMLA) stems from a Rajasthan Police FIR against a company called Nexa Evergreen. The company is alleged to have duped investors to the tune of ₹2,700 crore by promising higher returns and plots of land in Dholera city of Gujarat, the sources said. About two dozen locations in Sikar, Jaipur, Jodhpur and Jhunjhunu in Rajasthan and Ahmedabad in Gujarat are being searched as part of this probe, they said.
