Enforcement Directorate has attached flats worth Rs. 330 Crore approximately in Tower C of sale building namely Omkar 1973, Worli of M/s Omkar Group and an open land situated at Viram, Pune worth Rs. 80 Crore approximately of a company belonging to Sachin Joshi under Prevention of Money Laundering Act (PMLA), 2002.
ED initiated money laundering investigation on the basis of FIR No. 109 of 2020 filed by City Chowk Police Station, Aurangabad.
ED had conducted a search last year on 25.01.2021 to 27.01.2021 and arrested Babulal Varma, Managing Director of M/s ORDPL, Kamal kishore, Chairman of M/s ORDPL and later on Sachin Joshi. The ED had earlier filed Prosecution Complaint on 26.03.2021 before the Session Court, Bombay.
ED during investigation found that loan amount Rs. 410 Crore was fraudulently acquired by M/s Surana Developers Wadala, LLP, a sister concern of M/s ORDPL through falsely increased slum dwellers numbers and FSI. Out of Rs. 410 Crore, an amount of Rs. 330 Crore was laundered into the sale building of Omkar Group and an amount of Rs. 80 Crore approximately was laundered through Sachin Joshi and his Viiking Group of companies under the guise of services and investment.
Further investigation is in progress.