The Directorate of Enforcement (ED) has provisionally attached movable properties worth Rs 8.94 crore and as many as nine immovable properties worth Rs 27.57 crore, aggregating to Rs 36.52 crore belonging to D S Home Construction Pvt Ltd, Sikandar Singh, Vikas Chhoker and others in the matter of Sai Aaina Farms Pvt. Ltd, on charges of money laundering.
On Saturday, the central enforcement agency ED said it initiated investigations based on FIRs registered by Gurugram Police against Sai Aaina Farms Pvt. Ltd. and its other associated concerns for cheating and forgery by way of submission of fake/forged documents including certain bank guarantees before the banks instead of External Development Charges (EDC) and Internal Development Works, for getting the license issued.
ED, in a release, said Sai Aaina Farms Pvt. Ltd. collected about Rs 363 crore from 1,500 home buyers (approximately) under the affordable housing scheme, on the promise of providing houses at Sector 68, Gurugram. However, the said entity failed to deliver the houses and missed multiple deadlines of completion and handing over the same.
“The home buyers have been holding protests for 1.5 years against the Mahira Group seeking delivery of the promised houses at the earliest,” said the enforcement agency. ED investigations revealed that said entity siphoned off the money of home buyers by booking fake construction expenditures in group entities. Cash equivalent to the fake purchases were received back from the entities providing fake bills/ invoices by the directors and promoters of Mahira Group companies including Sai Aaina Farms Pvt. Ltd and D S Home Constructions Pvt. Ltd.
“Such siphoned-off money was used for personal gains. The Directors/ promoters also diverted home buyers money to other group entities as loans (that is outstanding for years) for their personal gains,” ED said. Further, ED investigations also revealed that the directors/promoters of Mahira Group companies siphoned off about Rs 113 Crore from Sai Aaina Farms Pvt. Ltd. (belonging to home buyers of Sector 68 housing project) alone, by way of bogus expenses, loans to group entities and others from Sai Aaina Farms Pvt. Ltd. Further investigation is in progress.
