CHANDIGARH: The Punjab and Haryana high court has issued notice to the Enforcement Directorate (ED) and Lalit Goyal, MD of Ireo Group, on a plea alleging that the latter transferred his properties worth hundreds of crores to third parties in violation of conditions imposed upon him.
Justice N S Shekhawat has issued the notice while taking cognizance of a petition filed by Gulshan Babbar, a resident of Mukherjee Nagar, Delhi.
The matter has been fixed for Nov 14, by when ED and Goyal will have to submit their replies. Goyal has been facing a money-laundering case in relation to a cheating case registered against him in Pinjore, Panchkula district, for cheating buyers of a housing project allegedly launched by him.
According to the petitioner, Goyal had been misusing conditions imposed upon him by the court while releasing him on bail. It includes selling off properties of the Ireo Group and doing every effort to leave the country.
It has been alleged that Goyal has created an antedated document dated Feb 9, 2021, to transfer shares in the favour of his mother, Rama Goyal, whereby huge number of shares of New Era Buildwell Private Ltd have been transferred and value around Rs 10,000 crore.
“Surprisingly, the alleged transaction of share transfer was uploaded on the website of the Union ministry of corporate affairs on Jan 31, 2023. It is apparent that the transaction has been shown dated Feb 9, 2021, to defy the order through which he was granted bail. The information about the transfer of such shares was not uploaded on the site of the ministry till Jan 31, 2023,” the petition has alleged.
HC has also been informed that Goyal sold 14.816 acres of land, which is around 59,956.20 square metres, in Gurgaon, Haryana to Oberoi Realty Limited, Mumbai, for Rs 597 crore.
“Not only this, but Goyal has also sold 28.49 acre of land to DLF for a total consideration of Rs 1,241 crore. Ireo Private Ltd issued bonds (listed debentures) in 2017 and mortgaged 73 acres in 2017, which were purchased by Axis Trustees Services Ltd (Bond trustee) for an amount of Rs 600 crore.
Now, DLF has bought the bonds from Axis Trustees Services for Rs 825 crore. Consequently, a settlement agreement has been entered between DLF Home Developers Ltd (DHDL), Axis Trustees Services Ltd (bond trustee) and Ireo Private Ltd (bond issuer).
The possession of 17 acres of land is already transferred in the month of Feb 2024. Possibly, the remaining land has also been transferred to DHDL. The act and conduct of Lalit Goyal reflects scant regard for the majesty of law. Goyal openly violated the order and is fully liable to be dealt with in the harshest manner by HC,” petitioner has said, seeking cancellation of Goyal’s bail.
