NEW DELHI: The Enforcement Directorate Sunday said it seized Rs 30 lakh in cash and froze some bank accounts following raids against a Noida-based real estate company and its promoters who allegedly duped investors of a commercial project promised by them. The searches were carried out on April 10 at the premises of Bhasin Infotech and Infrastructure Pvt Ltd, Grand Venezia Commercial Towers Pvt Ltd and their key personnel, the federal probe agency said in a statement.
Nine locations in Noida (Uttar Pradesh), Delhi and Goa were covered as part of the action carried out under the Prevention of Money Laundering Act (PMLA).
The money laundering case stems from multiple FIRs filed by the Noida police against “prime accused” Satinder Singh Bhasin, managing director of Bhasin Infotech & Infrastructure Pvt Ltd, and others.
The company started a real estate project named ‘Grand Venezia Commercial Complex’ and “lured” investors in this project through fancy advertisement and false assurances, the ED said.
They “failed” to award the possession to the investors and siphoned off the amounts invested, it alleged.
The company or its promoters could not be contacted for a response on the allegations made by the ED against them.
Some “incriminating” information, documents, electronic devices, bank locker keys, and Rs 30 lakh in cash were seized and some “suspected” bank accounts were frozen during the searches, the agency said.
