In a significant development, the Lucknow zonal unit of the Enforcement Directorate (ED) has provisionally attached immovable assets valued at approximately Rs 100 crore. These properties belong to the embattled real estate giant, Amrapali Group, and are linked to a sprawling money laundering investigation.
The Core of the Allegations and Attached Assets
The attached properties include office spaces, factory land, and buildings owned by Mauria Udyog. This entity is part of the Sureka Group, which is promoted by Navneet Sureka and Akhil Sureka, who are associated with the Amrapali Group. The ED's action stems from allegations that the Amrapali Group's promoters collected enormous sums from thousands of homebuyers for various projects but failed to deliver the promised flats within the agreed timeframe.
Instead, as per the probe agency, these funds were systematically diverted and misappropriated through a web of criminal conspiracy, bogus transactions, forgery, and outright cheating. The investigation was triggered based on multiple First Information Reports (FIRs) registered at police stations in Gautam Buddh Nagar and by the Economic Offences Wing (EOW) of the Delhi Police.
How the Homebuyers' Money Was Diverted
The ED's meticulous probe revealed a clear trail of fund diversion. Amrapali directors, identified as Anil Kumar Sharma, Shiv Priya, and Ajay Kumar, allegedly conspired with Navneet Sureka and Akhil Sureka of Mauria Udyog and Jotindra Steel & Tubes. Together, they channeled the homebuyers' money through a network of shell entities and fictitious suppliers.
The agency has concretely established that a sum of Rs 110.39 crore from homebuyers was illegally funneled to Mauria Udyog. Since the original proceeds of the crime were no longer traceable or available for direct attachment, the ED invoked the principle of "value thereof" under the Prevention of Money Laundering Act (PMLA). This legal provision allows for the attachment of equivalent value assets when the specific proceeds of crime have been layered or integrated.
Broader Case Timeline and Total Attachments
This investigation also follows a pivotal Supreme Court order dated July 23, 2019, passed in the case of Bikram Chatterji & Others vs Union of India & Others, which was filed by aggrieved homebuyers. The ED's crackdown has been ongoing, with the agency having previously arrested senior Amrapali executives, including directors, the statutory auditor, and the Chief Financial Officer (CFO).
To date, the prosecution has filed six formal complaints against a total of 33 individuals and entities involved in the scandal. With this latest attachment order for Rs 100 crore, the cumulative value of properties seized in this multi-crore money laundering case has now reached a staggering Rs 303.08 crore, marking a critical step in the efforts to secure justice for the defrauded homebuyers.
