GURUGRAM, SEPT 17: The Enforcement Directorate (ED) on Thursday conducted searches at the residence and farmhouse of former Haryana minister Gopal Kanda in Gurugram as part of a money laundering investigation linked to an alleged real estate fraud, officials said.
The searches are connected to a case involving real estate company Vatika Limited, which is accused of allegedly collecting money from investors after promising timely possession of commercial properties, assured returns, lease rentals and execution of sale deeds.
According to ED officials, the investigation covers four commercial projects in which around ₹248.46 crore was collected from 661 investors. The agency alleges that possession of the properties was not handed over and the promised sale deeds had not been executed.
The ED searches at Kanda's residence, farmhouse and office in Gurugram are part of the agency's efforts to trace the alleged money trail in the case.
Officials said the agency suspects that funds allegedly diverted from the real estate company were transferred to various companies linked to the former minister.
The searches are aimed at gathering documents and other material relevant to the alleged financial transactions and tracing the movement of funds.
The investigation is being conducted under provisions of the Prevention of Money Laundering Act (PMLA). Further details regarding the searches and any recoveries are awaited.
