New Delhi : , Tuesday, November 23rd.Enforcement Directorate raided Gurugram-based realty companies – Ireo group in Haryana and Delhi for laundering approximately Rs 2.600 crore.
According to the agency, they conducted search operations in Gurugram and Delhi at the premises of IREO Pvt Ltd, IDM Reality Pvt Ltd, Madeira Conbuild Pvt Ltd, Global Estate, and other residential properties of directors and associates (Lalit Goyal and Jai Bharat Agarwal, Anupam Nagalia and Madhukar Tuulsi, CA Anil Kumar Goel).
This search led to the seizure property papers and foreign investment papers as well as laptops and Indian currency.The total value of these items was Rs 14.2 lakh.
FIRs were registered in Panchkula, Haryana Police and FIRs of Economic Offence Wing, Delhi.
The FIRs against IREO Private Limited and Lalit Goyal, who are accused of not providing plots or flats for homebuyers and siphoning their funds, led to money laundering investigations.
According to the ED, the group used various tax havens to route funds to India.
This included buying back equity shares and recording fictitious expenses on the books.Writing off projects in progress, interest-free loans, advances to sister concern, round tripping funds through shell companies, and creating assets both inside and outside India.
The total funds in question exceed Rs 2600 crore.Part of these proceeds are from crime.
Further investigation revealed that LalitGoyal was a settler named beneficiary in an overseas Trust located in Guernsey, which controls assets held outside India.The recent Pandora Papers Leak also identified four entities, which Lalit Goyal is a beneficiary of.These entities have a registered address in BVI and hold assets with a value greater than USD 77.73 million (Rs 575 crore).
Lalit Goyal, who was earlier arrested on November 16th, was remanded to ED custody for seven days by Special Court.Three days have been added to the ED custody, which will continue until November 26.
“Further investigation is in progress,” he said.
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