Latest news with #RohtasProjectsLtd.
Time of India
4 days ago
- Business
- Time of India
ED raids against Rohtas Projects for ₹248-crore 'fraud' with home buyers
NEW DELHI | LUCKNOW: The Enforcement Directorate on Wednesday conducted searches against an Uttar Pradesh-based realty group as part of a money laundering probe against it for allegedly duping investors to the tune of Rs 248 crore, official sources said. At least eight premises in Lucknow and two in Delhi are being searched in the case against Rohtas Projects Ltd., the sources said. The action is being carried out under the Prevention of Money Laundering Act ( PMLA ), they said. The money laundering case stems from as many as 87 FIRs filed by home/commercial space buyers since 2021 alleging they were duped and not given their properties. As per a forensic audit conducted by the UP RERA (Uttar Pradesh Real Estate Regulatory Authority), the "proceeds of crime" in this case is Rs 248 crore, the sources said. The searches are being conducted with an aim to find evidence and the assets of the promoters for attachment as they are "absconding" since the last four years, the sources claimed. The promoters of the company have been identified as Piyush Rastogi , Paresh Rastogi and Deepak Rastogi. The promoters or their legal representatives could not be contacted immediately for a comment on the ED action against them.
Deccan Herald
4 days ago
- Business
- Deccan Herald
ED raids against UP realty group for Rs 248-cr 'fraud' with home buyers
At least eight premises in Lucknow and two in Delhi are being searched in the case against Rohtas Projects Ltd., the sources said. The action is being carried out under the Prevention of Money Laundering Act (PMLA), official sources said.
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Business Standard
4 days ago
- Business
- Business Standard
ED raids against UP realty group for ₹248 cr fraud with home buyers
The Enforcement Directorate on Wednesday conducted searches against an Uttar Pradesh-based realty group as part of a money laundering probe against it for allegedly duping investors to the tune of ₹248 crore, official sources said. At least eight premises in Lucknow and two in Delhi are being searched in the case against Rohtas Projects Ltd., the sources said. The action is being carried out under the Prevention of Money Laundering Act (PMLA), they said. The money laundering case stems from as many as 87 FIRs filed by home/commercial space buyers since 2021 alleging they were duped and not given their properties. As per a forensic audit conducted by the UP RERA (Uttar Pradesh Real Estate Regulatory Authority), the "proceeds of crime" in this case is ₹248 crore, the sources said. The searches are being conducted with an aim to find evidence and the assets of the promoters for attachment as they are "absconding" since the last four years, the sources claimed. The promoters of the company have been identified as Piyush Rastogi, Paresh Rastogi and Deepak Rastogi. The promoters or their legal representatives could not be contacted immediately for a comment on the ED action against them. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
4 days ago
- Business
- Time of India
ED raids against UP realty group for Rs 248-cr 'fraud' with home buyers
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Enforcement Directorate on Wednesday conducted searches against an Uttar Pradesh-based realty group as part of a money laundering probe against it for allegedly duping investors to the tune of Rs 248 crore, official sources least eight premises in Lucknow and two in Delhi are being searched in the case against Rohtas Projects Ltd., the sources said. The action is being carried out under the Prevention of Money Laundering Act (PMLA), they money laundering case stems from as many as 87 FIRs filed by home/commercial space buyers since 2021 alleging they were duped and not given their per a forensic audit conducted by the UP RERA (Uttar Pradesh Real Estate Regulatory Authority), the "proceeds of crime" in this case is Rs 248 crore, the sources searches are being conducted with an aim to find evidence and the assets of the promoters for attachment as they are "absconding" since the last four years, the sources promoters of the company have been identified as Piyush Rastogi, Paresh Rastogi and Deepak promoters or their legal representatives could not be contacted immediately for a comment on the ED action against them.
