May 26, 2022

New Delhi: Over three years after Ramesh Sanka, former Chief Executive Officer (CEO) of real estate developer IREO Private Limited, approached the Supreme Court seeking a central agency probe into allegations of cheating and misappropriation of funds and customers money in the company, the Enforcement Directorate (ED) last month filed its first chargesheet against the company’s vice-chairman and managing director, Lalit Goyal, among others.

In 2018, the apex court had issued notices to several investigation agencies to look into Sanka’s allegations.

Thereafter, in November, 2021, the ED arrested Goyal and launched a criminal investigation into him, taking cognisance of around 30 first information reports (FIR) filed against IREO, Goyal and others in Panchkula and Gurgaon in Haryana, Ludhiana in Punjab, and Delhi.

In its chargesheet, filed before a Special Prevention of Money Laundering Act (PMLA) Court in Panchkula, the ED accused Goyal and others of committing real estate fraud.

‘Over 1,050 home buyers and investors duped’

The ED chargesheet revealed that over a thousand home-buyers had suffered due to the acts of the accused. It said, “1,050 homebuyers and investors in IREO Projects like IREO Fiveriver, The Corridors, IREO City, Gurgaon Hills in Haryana and the IREO Waterfront Township in Punjab, among others, had made advance payments but are yet to receive their booked flats/plots despite the lapse of more than 4-5 years.”

Further, the investigating agency…

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