New Delhi:
In major action against Zoom Developers Private Limited, the Enforcement
Directorate on Tuesday said that it has attached four immovable properties
worth Rs 1.47 crore in connection with its money laundering probe over
defrauding banks to the tune of Rs 2,650 crore.
An ED official here said that the financial probe agency attached four pieces of agricultural land of Zoom Developers under the sections of the Prevention of Money Laundering Act (PMLA).
The ED registered a case on the basis of various FIRs and charge-sheets filed by the CBI against Zoom Developers Pvt Ltd, Vijay Choudhary, Sharad Kabra and others for defrauding banks to the tune of Rs 2,650 crore.
It was alleged that Zoom Developers received a huge amount of money from banks by misdeclaration and cheating the consortium of banks. It transferred funds to another group company namely Zoom Realty Projects Private Limited, which is also controlled by Choudhary and others.
"The proceeds of crime generated by defrauding banks was used to purchase immovable properties by routing it through Zoom Realty Projects Pvt Ltd," the official said. IANS)