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  • BIKEBOT SCAM: ED attaches assets worth Rs 103.73 crores

    Published on July 21, 2020

    Enforcement Directorate, ED has attached movable and immovable assets to the tune of Rs.103.73 crore of M/s Garvit Innovative Promoters Limited, its promoter Sanjay Bhati and others in BIKEBOT SCAM under Prevention of Money Laundering Act, PMLA.

    Attached assets include 26 immovable properties totalling to Rs. 101.45 crore situated in Gautambudh Nagar, Ghaziabad, Bulandshahar, Kanpur and Indore along with bank balances in 22 bank accounts totalling to Rs. 2.28 crore.

    PMLA investigation in the BIKEBOT scam was taken up in June last year on the basis of FIRs registered at Dadri police station in Gautambudh Nagar against the company and its promoter Sanjay Bhati and others.

    During investigation by the Directorate searches were conducted at 12 locations which resulted in in recovery of details of several properties and incriminating documents.

    Survey conducted in a Co-operative bank in Noida revealed suspicious transactions and involvement of some banking officials in aiding and abetting the accused in laundering of the public money.

    Various persons involved in the case were examined and relevant records were also collected. Investigation conducted so far has resulted in identification of 19 immovable properties situated in Gautambudh Nagar, Ghaziabad, Bulandshahar, Kanpur and Indore in the name of Garvit Innovative Promoters Ltd. along with 07 other properties.

    These 26 immovable properties and balances in bank accounts totalling to Rs. 103.73 crore have been provisionally attached today under PMLA. Further investigation in this case is in progress.

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