GBP group properties worth Rs 87cr attached in money laundering case
The Enforcement Directorate, Chandigarh, has provisionally attached immovable properties worth Rs 87.64 crore in the form of incomplete flats, shops and villas at GBP Camellia situated at Aujla village in Kharar, Mohali, under the provisions of Prevention of Money Laundering Act (PMLA), 2002, belonging to Gupta Builders and Promoters Private Limited.
The action comes after the Enforcement Directorate took possession of properties worth Rs 205 crore of GBP Group in Zirakpur on November 8 last year with properties — Athens-1 and Athens-2 — of absconding directors Satish Kumar, Pardeep Kumar, Raman Gupta,
Vinod Gupta of the Gupta Builders and Promoters (GBP) Group.
The agency is investigating money laundering charges against the real estate firm.
Back in February 2024, a Prevention of Money Laundering Act court, Chandigarh, had issued summons to the directors of a real estate group in connection with a money laundering complaint filed by the Enforcement Directorate.
Notably, several cheating cases had been registered against GBP Group directors in Punjab and Chandigarh following complaints by homebuyers.
The ED stated that according to the FIRs, the buyers and investors were duped by promising them residential and commercial properties.
The accused developer had started real estate
projects on the Ambala-Chandigarh highway, Zirakpur, Mohali and New Chandigarh back in 2015-16 and 2016-17.