ED raids premises linked to IREO group CEO, CFO in Delhi-NCR, Chandigarh

Tribune News Service

New Delhi, November 22

The Enforcement Directorate today said it has conducted raids under the Prevention of Money Laundering Act (PMLA) at several locations in Delhi-NCR and Chandigarh in connection with its probe against real estate group IREO.

Officials in the agency said the raids were conducted on the premises linked to the CEO and CFO of the group under the provisions of the PMLA. About 12 premises in the National Capital Region (NCR) and Chandigarh had been covered.

The searches today were conducted on the basis of some fresh disclosures found in the case, the officials said.

The ED on November 16 had arrested the group’s vice-chairman and managing director Lalit Goyal in the case, which is linked to alleged diversion of home buyers’ fund to the tune of Rs2,600 crore.

The arrest in Chandigarh came after Goyal was stopped by the immigration authorities on November 11 at the Indira Gandhi International (IGI) Airport “while he was trying to leave the country”.

The action was taken by immigration officials on the basis of an ED lookout circular issued against him. Goyal was questioned at the airport and detained by the agency following which he was questioned by the investigators in Chandigarh.

The ED said its criminal investigation under the PMLA against Goyal was based on the FIRs filed by the Panchkula police in Haryana and also by the Economic Offences Wing (EOW) of the Delhi Police against companies such as IREO Private Limited and IREO Fiveriver Private Limited, and Lalit Goyal and others.

The businessman and his legal team had earlier denied any wrongdoing on their part and said no funds were diverted abroad in violation of laws.