New Delhi : The Enforcement Directorate (ED), Delhi Zonal Office, has provisionally attached immovable properties valued at approximately Rs 158.37 crore in connection with its ongoing probe in the case of Rockland Hospitals Limited and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.According to a press release, the investigation revealed that promoters allegedly siphoned off company funds through fake implant invoices (Rs 76.03 Cr) and inflated construction costs (Rs 82.34 Cr), routing the proceeds through shell companies before bringing them back as share capital.
The ED initiated the investigation on the basis of a complaint dated January 31, 2020, filed by the Serious Fraud Investigation Office (SFIO) before the Special Court (Companies Act), Dwarka, New Delhi, under various provisions of the Companies Act, 2013. The investigation pertains to large-scale financial fraud involving systematic siphoning of funds from Rockland Hospitals Limited by its promoters, the release said.The total Proceeds of Crime generated by the promoters using the above-mentioned modus operandi has been quantified at Rs. 158.37 Crore, the release added.
Earlier, separately, the ED conducted searches at eight residential and business premises linked to ROF Group chairman Mangal Sain Mittal along with Anil Sharma, their associates and business entities, in connection with an alleged Rs 90.5-crore fraud involving Shanti Niketan Co-operative Group Housing Society Ltd (CGHS).
In the searches carried out on July 9, the agency claimed to have recovered and seized digital devices, incriminating documents, property papers, audited financial statements and accounting records.
The federal agency also seized assets valued at about Rs 6.63 crore, including Rs 55 lakh in cash, gold bullion worth Rs 1.85 crore, gold jewellery worth Rs 1.95 crore, and around 100 kg of silver valued at Rs 2.28 crore.
Several bank accounts linked to the accused were also frozen, it further said.
The raids were carried out across Delhi, Faridabad and Gurgaon under the Prevention of Money Laundering Act (PMLA).
The searches were conducted based on a First Information Report (FIR) registered at Sushant Lok police station against Mittal, Anil Sharma, Arun Sharma and others on allegations of defrauding members of the cooperative housing society.
