Gurugram News: The ED started this investigation on the basis of an FIR registered by the Central Bureau of Investigation (CBI) under various sections of the Indian Penal Code and the Prevention of Corruption Act 1988. The FIR names the then Haryana Chief Minister Bhupinder Singh Hooda, the then Director of Town and Country Planning Trilok Chand Gupta, RS Infrastructure Private Limited (RSIPL) and 14 other colonizer companies.
Jagran Correspondent, Gurugram. The Enforcement Directorate (ED) has tightened its grip on M3M Builder and its associate company RS India Infrastructure Private Limited and has temporarily seized 88.29 acres of land worth about Rs 300 crore in Gurugram. This land is located in Bans Haria village of Harsaru tehsil of Gurugram district of Haryana. Action has been taken by ED under the Money Laundering Act 2002.
ED started this investigation on the basis of FIR registered by Central Bureau of Investigation (CBI) under various sections of Indian Penal Code and Prevention of Corruption Act 1988. This FIR includes the names of then Haryana Chief Minister Bhupendra Singh Hooda, then Director of Town and Country Planning Trilok Chand Gupta, RS Infrastructure Private Limited (RSIPL) and 14 other colonizer companies.
The accused obtained licenses and took advantage of the fraud
This case is about cheating various land owners, general public and Haryana State/Haryana Urban Development Authority. It is alleged that the accused got notification issued under Section 4 and 6 of the Land Acquisition Act 1894, forcing the land owners to sell their land to colonizer companies at a rate lower than the market price. Thereafter, the accused obtained licenses on the notified land and took advantage of the fraud.
ED investigation found that RSIPL promoters Basant Bansal and Roop Bansal, in connivance with the persons named in the FIR, illegally obtained licenses to set up a commercial colony on 10.35 acres of land. After obtaining the license, they did not develop the commercial colony and later sold the licensed land and company properties to Lowe Realty Private Limited, a subsidiary of Religare Group, at a huge price of Rs 726 crore.
M3M is a law-abiding company
This fraud generated illegal income of Rs 300.15 crore, which was withdrawn from RSIPL and sent to the bank accounts of the promoters and their family members. Later it was used in the operations and business expenses of M3M group companies. Further investigation is going on in the matter. In this regard, M3M spokesperson says that M3M is a law-abiding company. This allegation is clearly false and baseless. The transactions that have taken place have been misinterpreted. It has been exaggerated.
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