Chandigarh: PMLA court summons directors of GBP Group

Tribune News Service

Ramkrishan Upadhyay

Chandigarh, February 23

Jagjit Singh, Special Judge, PMLA court, Chandigarh, has issued summons to the directors of a real estate group in a money laundering complaint filed by the Enforcement Directorate (ED).

The ED filed complaints against Gupta Builders and Promoters (GBP) Private Limited directors under Section 45, read with Section 44 of the Prevention of Money Laundering Act (PMLA)-2002 for the commission of offence defined under Section 3 and punishable under Section 4 of the PMLA.

The ED stated that several cheating cases had been registered against GBP Group directors Satish Gupta, Raman Gupta, Pardeep Gupta, Vinod Gupta and Anupam Gupta and others in Punjab and Chandigarh following complaints by homebuyers.

The ED stated that as per the FIRs, the innocent buyers and investors were duped by promising them residential and commercial properties. The developer started projects on the Ambala-Chandigarh highway, Zirakpur, Mohali and New Chandigarh in 2015-16 and 2016-17.

The investors alleged that the group failed to offer the possession of flats as promised despite taking money. The ED stated that as per the balance sheet, M/s GBPPL received nearly Rs 478 crore as advances from a large number of customers. They neither delivered the property nor returned their money. The ED stated that it revealed from the investigation that proceeds of crime received by M/s GBPPL were parked with other firms/ entities. Therefore, they were guilty of money laundering.

The court observed that on the basis of the documentary evidence and oral arguments, a prima facie case for summoning all accused was made out. Hence, summons were issued for April 16 this year.

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