Tribune News Service
New Delhi, July 20
The Enforcement Directorate (ED) on Monday stated it has issued a provisional attachment order beneath PMLA to grab movable and immovable belongings price Rs 103.73 crores of Garvit Innovative Promoters Ltd. and its director Sanjay Bhati in ‘BIKEBOT Scam’.
According to officers within the ED, the hooked up belongings embrace 26 immovable properties of Rs 101.45 crores located in Gautambuddh Nagar, Ghaziabad, Bulandshahar, Kanpur and Indore together with financial institution balances in 22 financial institution accounts totalling to Rs 2.28 crore.
The accused individuals Sanjay Bhati, GIPL and others floated extremely profitable funding plans within the guise of a BIKE TAXI companies by the title of BIKEBOT, whereby a buyer may spend money on one, three, 5, or seven bikes, which might be maintained and operated by the corporate and the investor can be paid month-to-month lease, EMI and bonuses (in case of funding in a number of bikes) and additional incentives on including further buyers in a binary or multi-level advertising construction.
The cash laundering probe company took up this case in June final yr following FIRs registered at Dadri police station in Gautambuddh Nagar towards the corporate and its promoter Bhati and others.
The firm, beneath the multi-level advertising scheme, additionally allotted franchisees in numerous cities however the bike taxi hardly operated.
The funds so collected have been used for compensation to the sooner buyers much like that in a ponzi scheme, acquisition of different corporations, buy or creation of varied immovable and movable belongings within the title of corporations and likewise switch to different corporations and people as loans & investments with out correct documentation, company’s officers stated.
During probe, searches had been performed at 12 places which resulted in restoration of particulars of a number of properties and incriminating paperwork.