New Delhi: The Enforcement Directorate (ED) on Monday said that it has attached properties worth Rs 239 crore of the Alchemist Group in connection with its ongoing probe into a money laundering case.
An ED official said that it has provisionally attached assets situated at various places including Chandigarh, Panchkula, Derabassi, SAS Nagar (Punjab), Shimla and also accounts in HDFC Bank.
The ED’s action comes in the wake of a case it registered against Alchemist Infra Realty LLC and others on the basis of a prosecution complaint filed by the Securities and Exchange Board of India (SEBI) on March 3, 2016.
Investigations have revealed that funds mobilised by the Alchemist Infra Realty Ltd from various investors were never utilised for the purpose for which they were collected.
The funds were transferred to the bank accounts of other group companies which were mainly paper companies from where they were systematically siphoned off by the accused and used to purchase properties at various locations in the country, the ED official said.