ED Attaches Properties Worth Rs.56.86 Crore in Krrish Realtech Fraud Case
Real Estate

ED Attaches Properties Worth Rs.56.86 Crore in Krrish Realtech Fraud Case

The Directorate of Enforcement (ED) in Gurugram has provisionally attached properties valued at Rs.568.6 million belonging to M/s Krrish Realtech Pvt. Ltd., Amit Katyal, and others. The action, conducted under the Prevention of Money Laundering Act (PMLA) of 2002, follows allegations of illegal diversion of funds collected from plot buyers.

The ED claims that Krrish Realtech accepted payments from buyers without possessing a valid license from the Department of Town and Country Planning (DTCP). The ED conducted search operations at two premises, leading to the recovery of ?35 lakh in cash and other incriminating evidence. Rajesh Katyal, a key figure in the alleged scheme, was arrested and subsequently placed under seven-day ED custody by a special court in New Delhi.

The investigation stems from multiple FIRs lodged by the Gurugram Police and the Economic Offences Wing (EOW) in New Delhi. These FIRs accuse Amit Katyal, Rajesh Katyal, and their associates of defrauding investors through their companies, M/s Krrish Realtech Pvt. Ltd. and M/s Brahma City Pvt. Ltd. The companies are alleged to have illicitly transferred hundreds of crores abroad through fraudulent schemes.

According to the ED, Rajesh Katyal played a central role in collecting and diverting funds from prospective buyers by falsely offering plots under a DTCP license that was in the name of another company. The investigation is ongoing, and further developments are expected in the case.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The Directorate of Enforcement (ED) in Gurugram has provisionally attached properties valued at Rs.568.6 million belonging to M/s Krrish Realtech Pvt. Ltd., Amit Katyal, and others. The action, conducted under the Prevention of Money Laundering Act (PMLA) of 2002, follows allegations of illegal diversion of funds collected from plot buyers. The ED claims that Krrish Realtech accepted payments from buyers without possessing a valid license from the Department of Town and Country Planning (DTCP). The ED conducted search operations at two premises, leading to the recovery of ?35 lakh in cash and other incriminating evidence. Rajesh Katyal, a key figure in the alleged scheme, was arrested and subsequently placed under seven-day ED custody by a special court in New Delhi. The investigation stems from multiple FIRs lodged by the Gurugram Police and the Economic Offences Wing (EOW) in New Delhi. These FIRs accuse Amit Katyal, Rajesh Katyal, and their associates of defrauding investors through their companies, M/s Krrish Realtech Pvt. Ltd. and M/s Brahma City Pvt. Ltd. The companies are alleged to have illicitly transferred hundreds of crores abroad through fraudulent schemes. According to the ED, Rajesh Katyal played a central role in collecting and diverting funds from prospective buyers by falsely offering plots under a DTCP license that was in the name of another company. The investigation is ongoing, and further developments are expected in the case.

Next Story
Resources

KPIL Bags New Orders of Rs 10.11 Billion

Kalpataru Projects International Limited (KPIL), along with its international subsidiaries have secured new orders/notification of awards of Rs 10.11 billion (bn). The company has received news order in the Transmission & Distribution (T&D) business in overseas market, in the Railway business in India and in the Buildings & Factories (B&F) business in India Manish Mohnot, MD & CEO, KPIL, said, “We are pleased with the strong momentum in order inflows, which has significantly strengthened our order book, with YTD inflows now exceeding Rs 173 bn. Notably, 85 per cent of t..

Next Story
Building Material

Antica Ceramica’s Tile Collection Blends Luxury and Practicality

Antica Ceramica, a leader in innovative tile design, has recently launched a new marble-look tile collection that combines the elegance of natural marble with the durability and ease of maintenance of porcelain tiles. This collection is set to transform spaces in residential, commercial, and hospitality settings, offering architects, interior designers, and homeowners the ideal solution for creating sophisticated, timeless interiors with minimal upkeep.One of the key advantages of marble-look tiles is their resistance to common issues associated with natural marble. These tiles are highly resi..

Next Story
Infrastructure Transport

IndiGo and AAI Launch Zero-Waste Airport Project at Indore

IndiGo, through its CSR arm IndiGoReach, has partnered with the Airports Authority of India (AAI) and the AAS Foundation, Indore, to roll out the Zero-Waste Airport Project at Indore Airport. The initiative focuses on the 4R strategy—Reduce, Reuse, Recycle, and Recover—to minimise environmental impact and set a benchmark in sustainable waste management for the aviation industry. The project processes 750 kg of daily airport waste on-site, reducing reliance on traditional disposal methods. A Material Recovery Facility (MRF) segregates dry waste into 10 categories for recycling, while a Wet..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000