The Enforcement Directorate (ED) has seized 119 bank accounts, two luxury vehicles, and some insurance policies under the anti-money laundering law after it raided the promoters of a Bihar-based real estate company that is alleged to have duped numerous home buyers.
The searches were launched on April 18 at about eight locations of the company called Agrani Homes Pvt. Ltd., its CMD Alok Kumar Singh, Vijaya Raj Laxmi, Alka Singh, and Rana Ranveer Singh, along with those of “key employees” Satvik Singh and Chartered Accountant Nishat Shrivastava in Patna, Varanasi, Lucknow, and Delhi, the agency said in a statement. “Agrani Group of Companies and its Director have cheated the prospective home buyers and illegally diverted their deposits or investments for acquiring properties in their personal names or in the names of other companies,” the ED alleged. The money laundering case against the company and its promoters, filed under the provisions of the Prevention of Money Laundering Act (PMLA).