The Enforcement Directorate (ED) has provisionally attached 403 immovable properties worth Rs 83,96,58,834 of real estate major Kalptaru Buildtech Corporation Ltd, its group entities and Directors under Prevention of Money Laundering Act (PMLA).
The ED initiated a probe on the basis of various FIRs registered by UP Police and other State police for cheating and fraud with investors in various schemes floated by Kalptaru Buildtech and its other group companies.
Investigation revealed that Jai Krishna Singh Rana, CMD of Kalptaru Group started collecting deposits from the public fraudulently in Kalptaru Agro (I) Limited by giving them assurance for registration of plots after specified time.