ED, Lucknow has provisionally attached 05 immovable properties worth Rs. 23.13 Crore in the form of agricultural land and industrial plots at Hoshiarpur, Fatehgarh Sahib and Mohali, Punjab in the name of M/s Moonlight Propbuild Pvt Ltd and M/s Elco Global Ventures LLP under the provisions of PMLA, 2002 in connection with the fraud committed by M/s Hacienda Projects Private Limited, its Promoters/Directors and others

"On 29/10/2024, the Enforcement Directorate (ED) issued an update regarding ED, Lucknow has provisionally attached 05 immovable properties worth Rs. 23.13 Crore in the form of agricultural land and industrial plots at Hoshiarpur, Fatehgarh Sahib and Mohali, Punjab in the name of M/s Moonlight Propbuild Pvt Ltd and M/s Elco Global Ventures LLP under the provisions of PMLA, 2002 in connection with the fraud committed by M/s Hacienda Projects Private Limited, its Promoters/Directors and others.

The ED investigation revealed that M/s Hacienda Projects Private Limited (HPPL) had started the Lotus 300 project at Sector 107, Noida on a land parcel of 67,941.45 sq. mtrs., but sold off part of it to M/s Prateek Infraprojects Pvt Ltd violating builder buyer agreements. An amount of Rs. 190 Crore was siphoned off to its group company, leading to the project's collapse and the companies' insolvency."