: The Enforcement Directorate has provisionally hooked up property price ₹944 crore held by Piyush Colonisers Restricted, its former promoters and related entities, in reference to an alleged dishonest case.
The properties embrace land parcels, flats, and business area situated in Haryana’s Faridabad, Palwal, Rewari and Bhiwadi. The company has additionally filed a prosecution grievance towards Amit Goel, former promoter of Piyush Colonisers Restricted, and others.
The company’s probe below the Prevention of Cash Laundering Act relies on the instances registered by the Delhi Financial Offenses Wing, Haryana police, and the Central Bureau of Investigation. “The offenses resulted in non-delivery of the models to the consumers of varied Piyush Group initiatives located in Palwal, Faridabad, Rewari, and Bhiwadi,” stated the ED.
There have been greater than 1500 consumers within the numerous initiatives of Piyush Group. The funds acquired by the group have been allegedly siphoned off and routed to its subsidiary corporations for subsequent investments in land parcels with out finishing the prevailing initiatives.
“Additional investigation revealed that key promoters transferred all of the land parcels by switch of shares holding challenge lands to the members of the family of former promoters with out consideration to cheat and alienate challenge land from homebuyers throughout insolvency proceedings,” it stated, including that the corporate later entered into the Company Insolvency Decision Course of in 2019. A decision plan for a similar has not but been authorized.
Revealed – April 07, 2026 04:29 am IST