The Enforcement Directorate (ED) on Monday said it has attached villas and flats in Goa and Delhi, along with office space, in an alleged money laundering case against the Sanskar Group.
“Provisionally attached movable and immovable assets to the tune of Rs 24.39 crore belonging to Sanskar Group, a proprietorship concern of Manish Sharma, Navin Beri, his partnership firm Lavanya Travels and Arvind Chadha, in connection with its probe for the offence of money laundering initiated against them,” the agency said in a statement.
“The attached assets are in the form of villas and flats in Goa, flats and office space in Delhi and Faridabad, and fixed deposits,” it added.
The ED initiated money laundering investigation on the basis of multiple FIRs registered by Goa Police under various sections of IPC against Sharma, Beri, and Chadha for duping of investors to the tune of approx Rs 10 crore by promising them villas in Banjara Hills Project, to be developed by Sanskar Group in Anjuna, Goa.
It revealed that Sharma entered into ‘agreement to sell’ and ‘sale deed’, executed before civil cum Sub-Registrar, with the buyers promising to deliver them the villas within stipulated time.
“However, when the project was completed to about 60-70 per cent, Manish Sharma and Navin Beri in connivance with the Bank Manager of Jammu and Kashmir Bank mortgaged the Banjara Hills project in Jammu and Kashmir Bank Ltd, Panaji and availed a loan of Rs 20 crore by submitting false documents. Thereafter, the loan amount was further diverted to the bank accounts of Manish Sharma, Navin Beri, his partnership firm M/s Lavnaya Travels and Arvind Chaddha,” the ED said.
“This money was further utilised and consumed by them for their own use. The bank declared the said loan account as NPA,” it added.