ED, Lucknow Zonal Office has provisionally attached immovable assets amounting to Rs. 90.42 Lakh (approx.) on 30/01/2025 in the case of M/s R Sons Infraland Developers Pvt Ltd., under the provisions of PMLA, 2002

News Anti-Bribery & Corruption Sanctions & Fines

Date: 30th Jan, 2025 Source: Enforcement Directorate (ED) Country: India Original Source

Brief

"On "30/01/2025", the "Enforcement Directorate (ED)" issued an update regarding "ED, Lucknow Zonal Office has provisionally attached immovable assets amounting to Rs. 90.42 Lakh (approx.) on 30/01/2025 in the case of M/s R Sons Infraland Developers Pvt Ltd., under the provisions of PMLA, 2002". The attachment includes agriculture land measuring area 0.082 Hectare situated at village Rahmatnagar, Mohanalalganj, Lucknow, Uttar Pradesh in the name of M/s R Sons Infraland Developers Pvt. Ltd."

PRESS RELEASE
30.01.2025

Directorate of Enforcement (ED), Lucknow Zonal Office has provisionally attached
immovable assets amounting to Rs. 90.42 Lakh (approx.) on 30/01/2025 in the case of M/s R
Sons Infraland Developers Pvt Ltd., under the provisions of Prevention of Money Laundering Act
(PMLA), 2002. The assets include agriculture land measuring area 0.082 Hectare situated at
village Rahmatnagar, Mohanalalganj, Lucknow, Utta r Pradesh in the name of M/s R Sons
Infraland Developers Pvt. Ltd.
ED initiated investigation on the basis of more than 100 FIRs registered by UP Police under
various sections of IPC, 1860 against M/s R Sons Infraland Developers Pvt. Ltd., and its Directors
Ashish Shrivastav, Ankur Shrivast av and others. The approximate Proceeds of C rime (POC) in
this case is more than Rs. 10 Crore.
ED investigation revealed that the accused persons, associates collected funds from the
public under the guise of investme nt in real estate sector and other attractive schemes. The
accused persons did not make any real estate projects and/or return the promised money to the
investors. ED investigation revealed that the money fraudulently collected were deposited in
several bank accounts of the accused persons and company. ED investigation identified the fund
trail and found that money collected from the customers was layered, transferred and diverted for
buying immovable property in the form of agriculture land in t he name of company i.e., M/s R
Sons Infraland Developers Pvt. Ltd. ED has now identified the property and has attached the
agriculture land worth Rs. 90.42 Lakh.
Further investigation is under progress.
Draft Tweet:-
ED, Lucknow Zonal Office has provisionally attached immovable assets amounting to Rs. 90.42
Lakh (approx.) on 30/01/2025 in the case of M/s R Sons Infraland Developers Pvt Ltd., under the
provisions of PMLA, 2002. The assets include agriculture land measurin g area 0.082 Hectare
situated at village Rahmatnagar, Mohanalalganj, Lucknow, Uttar Pradesh in the name of M/s R
Sons Infraland Developers Pvt. Ltd.

Highlights content goes here...

Purpose

The Directorate of Enforcement (ED), Lucknow Zonal Office, has taken a significant step to combat financial fraud by provisionally attaching immovable assets worth Rs. 90.42 Lakh (approximately) in the case of M/s R Sons Infraland Developers Pvt Ltd., under the provisions of Prevention of Money Laundering Act (PMLA), 2002. This move aims to safeguard the interests of investors and prevent further misuse of funds.

Effects on Industry

The provisional attachment of assets by ED is likely to have a significant impact on the real estate sector, particularly in Lucknow, Uttar Pradesh. The action may deter similar fraudulent activities in the future and promote transparency in business dealings. Additionally, this move may serve as a warning to other companies and individuals involved in Ponzi schemes or financial frauds.

Relevant Stakeholders

The stakeholders affected by this development include:

Investors who had entrusted their money with M/s R Sons Infraland Developers Pvt Ltd.

The company’s directors, Ashish Shrivastav, Ankur Shrivastav, and others

Bank officials who may have facilitated the transactions related to the case

Law enforcement agencies responsible for investigating financial crimes

Next Steps

The investigation by ED is ongoing, and further actions are expected. The provisional attachment of assets is a crucial step towards recovering the proceeds of crime (POC) estimated to be over Rs. 10 Crore. As the investigation unfolds, more information may come to light, and additional steps may be taken to bring the accused persons to justice.

Any Other Relevant Information

The ED’s action highlights the importance of vigilant enforcement in preventing financial crimes and protecting public interests. This case underscores the need for stricter regulations and monitoring mechanisms to prevent similar schemes from emerging in the future.

Enforcement Directorate (ED)

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ED, Lucknow Zonal Office has provisionally attached immovable assets amounting to Rs. 90.42 Lakh (approx.) on 30/01/2025 in the case of M/s R Sons Infraland Developers Pvt Ltd., under the provisions of PMLA, 2002

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ED, Lucknow Zonal Office has provisionally attached immovable assets amounting to Rs. 90.42 Lakh (approx.) on 30/01/2025 in the case of M/s R Sons Infraland Developers Pvt Ltd., under the provisions of PMLA, 2002

Brief

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