Mumbai: ED Seizes Aamby Valley Villa Among Rs 113 Crore Assets Linked to Builder Lalit Tekchandani in Fraud Case

The Enforcement Directorate (ED) in Mumbai on Thursday, April 18, attached movable and immovable assets, including a villa in  Aambey Valley and other residential properties in Raigarh district of Maharashtra linked with builder Lalit Tekchandani and his associates under the provisions of PMLA, 2002 in the case of cheating of prospective buyers of flats.

ED, Mumbai has provisionally attached movable and immovable properties including villa at Aambey Valley, various residential and business premises in Mumbai, land parcels in Raigarh District and fixed deposits having an aggregate value of Rs 113.5 Crores linked to a builder named…

— ANI (@ANI) April 18, 2024

In this case, the probe agency had already frozen and seized investments in shares, mutual funds and fixed deposits worth Rs 43 Crores.

The probe is focused on accusations of cheating against 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.