Bangalore, October 4 (IANS) Directorate, Bangalore on Saturday issued an provisional attachment order under the Money Laundering Act (PMLA), 2002 prevention, which attracts immovable properties in an amount of Rs 423.38 crore of Ozone Urbana Infra Developers. Ltd. and others.
According to an official statement by ED on Saturday, the company Ozone Urbana Infra Developers Pvt. The limited is that it has missed the completion of construction of launch in time and failed to hand over customers.
It has been alleged that the company motivated Bhola customers by offering pre-building EMI until home buyers handed over the flat possession, the ED said.
However, it has failed to respect its commitments and has not met the project/flats. The builder neither captured the homebuilders’ residential units nor returned their deposits and justified the entire upfront booking amount/loan amount wrongly.
The case was investigated by the ED, based on several FIRs under Section 419, 420 and 120B of the Indian Penal Code, 1860 ozone Urbana Infra Developers Pvt. Ltd. and its promoters.
Apart from this, an FIR was also lodged against the company and its promoter by the CBI, New Delhi on the direction of the Supreme Court.
Earlier, (Ed), Bangalore Zonal Office has conducted a search operations under Section 17 of PMLA on 1 August, in this case seizing various disorganized documents on 1 August and various premises on 1 August and from various complexes.
In addition, during the ED investigation, it is revealed that Ozone Urbana Infra Developers Pvt. S. Limited along with Vasudevan (Chief Promoter) has cheated home buyers to a tune of Rs 927.22 crore and has not captured apartments/units against the said money, which has dishonestly maintained funds.
The accused made other group institutions and S. He gave money to the persons concerned, including Vasudevan, and their family members.
Therefore, the company and S. Vasudevan got Rs. The income of crime has been generated for the tune of 927.22 crores and has done the same route through various institutions and Ozone Urbana Infra Developers Pvt. Limited
Thus, to protect the interest of customers, Ozone Urbana Infra Developers Pvt. Limited (Avenue in Avenue unusual stock (92 flats) and Aqua 2 projects (13 flats) (13 flats), 4.5 acres of commercial land) and its promoter S. Along with the personal qualities of Vasudevan -along with his wife (179 acres of land in Kanhelli village, Mudigre), all overall for the tune of RS. 423.38 crore has been provided provisionally.
Further investigation is going on under PMLA, the ED said.
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MKA/PGH