ED Seizes Aambey Vally Villa Among Rs. 113.5 Crore Assets Linked Builder Lalit Tekchandani Cheating Case
Mumbai, 18th April 2024: The Enforcement Directorate (ED), Mumbai, has taken significant action by provisionally attaching movable and immovable assets, including a villa in Aambey Valley, various residential and business properties in Mumbai, land parcels in Raigarh District, and fixed deposits valued at Rs. 113.5 Crore, connected to builder Lalit Tekchandani and his associates under the Prevention of Money Laundering Act (PMLA), 2002. This action is part of an investigation into alleged cheating of prospective flat buyers.
The ED’s investigation has already resulted in the freezing and seizure of investments in shares, mutual funds, and fixed deposits worth Rs. 43 Crore linked to this case.
The probe is focused on accusations of cheating against Lalit Tekchandani and his associates, with the ED targeting assets believed to be proceeds of the alleged wrongdoing. The provisional attachment of these assets underscores the seriousness of the investigation into financial irregularities associated with real estate transactions.
