LUCKNOW: The Directorate of Enforcement (ED), Lucknow Zonal Office, has provisionally attached one immovable property worth Rs. 1.5 crore belonging to Anil Kumar Tulsiani, director of Tulsiani Constructions and Developers Pvt. Ltd., in a fraud case under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The property attached is situated in Lucknow (UP) and is a residential flat.
ED initiated the investigation based on various FIRs registered by UP Police at Hazratganj Police Station, Lucknow, under different sections of the IPC, 1860, related to cheating and forgery, against Anil Kumar Tulsiani and Mahesh Kumar Tulsiani, both directors of Tulsiani Constructions and Developers Pvt. Ltd.
In this case, it was alleged that Tulsiani Constructions & Developers Private Limited, Cyber Tower, First Floor, Vibhuti Khand, Gomti Nagar, Lucknow, which is in the business of construction and sale of flats, had duped four purchasers who had taken home loans totaling Rs. 4.63 crore from Punjab National Bank, Lucknow, which went into default.
The FIR alleged that the four flats booked by the aforementioned borrowers were mortgaged based on a tripartite agreement for a total loan amount of Rs. 4.63 crore, but the flats were not delivered to the buyers or the bank.
Anil Kumar Tulsiani was arrested by UP Police on November 4, 2022, and Hazratganj Police filed a chargesheet against him on January 1, 2023. He was later granted bail in October 2023 by the Allahabad High Court, Lucknow Bench.
Additionally, multiple other FIRs have been lodged and are under investigation by UP Police against the builder company, Tulsiani Constructions and Developers Pvt. Ltd., and its associated companies.
During the investigation by ED, Lucknow, it was revealed that TCDL diverted loan funds from PNB and booking amounts from various buyers to its other accounts and group companies, leaving the gullible purchasers of flats in distress. The siphoned-off amount was used to pay off other debts, and the flats were not delivered to the home buyers.
Earlier, ED had provisionally attached five immovable properties worth Rs. 3.06 crore situated in Prayagraj, Uttar Pradesh, in the form of land/plots, belonging to Tulsiani Constructions and Developers Pvt. Ltd.
Now, the total consolidated attachment in this case stands at Rs. 4.56 crore.
Further investigation is ongoing.
