Money laundering: Proclamation proceedings against GBP directors : The Tribune India

Money laundering: Proclamation proceedings against GBP directors

Money laundering: Proclamation proceedings against GBP directors

Photo for representational purpose only. - File photo



Tribune News Service

Chandigarh, January 24

Special Judge, PMLA Court, has begun proclamation proceedings against Satish Kumar Gupta and Pradeep Kumar Gupta, directors of Gupta Builders and Promoters Private Limited (GBP), in a case filed by the Enforcement Directorate (ED) following a complaint.

The court has also issued non-bailable warrant against another accused, Raman Gupta.

The complaint was filed by the Directorate of Enforcement for an offence punishable under Section 174 of the Indian Penal Code, 1860, read with Section 63 of the Prevention of Money Laundering Act, 2002. It is alleged in the complaint that the ED had issued many summons under Section 50 of theh Prevention of Money Laundering Act, 2002, to the accused for submission of documents and submitting the statements, but they failed.

The ED alleged that the accused wilfully neglected and failed to appear on the summons issued to them.

The ED is probing the money laundering aspect against the builder stemming from multiple cheating cases filed by homebuyers against the directors. The investors alleged that the group had failed to offer the possession of the flats as promised despite taking money from them.

#enforcement directorate

Tribune Shorts


Top News

RBI raises repo rate by 25 basis points to 6.5 per cent

RBI hikes interest rates, projects moderate inflation, growth in next fiscal

UPI soon for all in-bound travellers, coin-vending machines:...

It is clear PM Modi protecting Adani: Rahul Gandhi

It is clear PM Modi protecting Adani: Rahul Gandhi

He said the prime minister did not answer the questions he h...

Haryana orders abolition of all posts lying vacant for past two years

Haryana orders abolition of all posts lying vacant for past two years

All promotional cases to be kept outside the purview of the ...

SC collegium recommends appointment of Justice Sabina as Chief Justice of Himachal Pradesh High Court

SC collegium recommends appointment of Justice Sabina as Chief Justice of Himachal Pradesh High Court

Three-member collegium also recommends appointment CJs of hi...


Cities

View All