Mumbai: Enforcement Directorate (ED) has arrested Aryarup Tourism and Club Resort Private Limited. Ltd. Harit transferred assets worth Rs 52.31 crore to a fraud case. This action was taken under the Maharashtra Deputy Protection Act (MPID). This will provide relief to thousands of investors cheated in this scam.
According to the ED investigation, Aryarup Tourism and Succlb Resort Private Limited and other related companies cheated investors by promising high returns in various investment schemes. It is said that the promoters of the company used the funds received from fraud to purchase real estate at various places, while some amount was transferred to anonymous bank accounts.
The ED had seized three properties in the case three times during 2013-14, including bank deposits worth Rs 29.20 crore and properties in Thane and Rajasthan.
The charge sheet in this case was filed in the court on 3 April 2014. The court ordered these properties to be transferred to the central government on 7 April 2021.
The ED consulted with MPID keeping investors in mind. He was asked to apply in a special court. The ED also introduced an AOC affidavit in this regard. And MPID supported the transfer of money. Thus, the court directed to transfer assets worth Rs 52.31 crore to MPID.
