Enforcement Directorate Files Prosecution Complaint in Dehradun Special Court Against Pushpanjali Realms & Infratech

In a significant development, the Directorate of Enforcement (ED) filed a Prosecution Complaint before the Special Court (PMLA), Dehradun, on 18.11.2023, targeting the directors of M/s Pushpanjali Realms & Infratech Ltd. and others. The case pertains to allegations of cheating and duping innocent flat buyers, with the Hon’ble Court acknowledging the Prosecution Complaint.

The ED’s investigation was initiated based on an FIR filed by the Rajpur Police Station, Dehradun, against M/s Pushpanjali Realms and Infratech Ltd., its directors, and others under various sections of the IPC for deceiving flat buyers by accepting advance payments for booking flats related to the company’s construction projects.

During the course of the investigation, the ED unearthed that the directors of the company diverted the advance booking amounts received from flat buyers for alternative purposes. They invested these funds in purchasing properties in their names and those of their family members. The total proceeds of the crime in this case amount to Rs. 31.15 Crore.

Earlier in the investigation, the ED had apprehended Rajpal Walia, director of M/s Pushpanjali Realms & Infratech Ltd., on 12.10.2023, and Shefali Walia on 23.09.2023, both under the Prevention of Money Laundering Act (PMLA), 2002. Presently, both individuals are in judicial custody. The ED had previously attached immovable assets totaling Rs. 31.15 Crore belonging to M/s Pushpanjali Realms and Infratech Ltd. and its directors under the provisions of PMLA, 2002, a decision confirmed by the Ld’ Adjudicating Authority.