The Enforcement Directorate (ED) has attached flats worth Rs 330 crore of Mumbai-based Omkar Group and an open land situated at Viram, Pune worth Rs 80 crore of a company belonging to Sachin Joshi under Prevention of Money Laundering Act.
The ED had initiated money laundering investigation on the basis of FIR No. 109 of 2020 filed by City Chowk Police Station, Aurangabad.
The ED had conducted a search last year on January 25- 27, 2021 and arrested Babulal Varma, Managing Director of ORDPL, Kamal Kishore, Chairman of ORDPL and later on Sachin Joshi.
The agency had earlier filed a Prosecution Complaint (chargesheet in police parlance) on March 26 last year before the Session Court, Mumbai.
During investigation, the ED found that loan amount of Rs 410 crore was fraudulently acquired by Surana Developers Wadala, LLP, a sister concern of ORDPL through falsely increased slum dwellers numbers and FSI (Floor Space Index).
Out of the Rs 410 crore loan, an amount of Rs 330 crore was laundered into the sale of a building of Omkar Group and an amount of Rs 80 crore was laundered through Sachin Joshi and his Viking Group of companies under the guise of services and investment. Further investigation is in progress.