Enforcement Directorate (ED) seizes properties worth over 291 crores in Gurugram, Rohini, and Jaipur
The Enforcement Directorate (ED) conducted raids on Thursday and seized properties in Gurugram, Rohini in Delhi, and Jaipur, including the GIP Mall in Noida.
The properties seized are valued at more than 291 crores in a money laundering case. International Amusement and Infrastructure Limited is accused of promising allocation of shops and other locations in Gurugram Sector 29 and 52-A to 1500 investors, collecting over 400 crores from them.
The holding company of International Amusement Limited, International Recreation and Amusement Limited, failed to complete the project within the stipulated time.
Allegations state that the company did not provide monthly returns on the seized properties in Delhi and Jaipur, and used investors’ money elsewhere.
The ED has seized property worth 291.18 crores of International Amusement Limited, including 3,93,737.28 square feet of unsold commercial space in GIP Mall, 45,966 square feet of commercial land in Rohini under the name of Adventure Island Limited, and 218 acres of land in Jaipur owned by International Amusement and Infrastructure Limited.
Over 400 crores stuck in the case.
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