Several unsold shops and spaces at Noida's Great India Place Mall are among properties worth nearly Rs 300 crore attached by the Enforcement Directorate in a cheating case. A chunk of commercial space in Rohini and leasehold rights over land in Jaipur got seized.
This action follows complaints filed by the Gurugram Police against International Recreation and Amusement Ltd. and its partners for cheating. They allegedly collected over Rs 400 Crore from around 1500 investors, promising homes and shops in Gurugram, but nothing came through.
The ED suspects that the money was diverted to other companies and individuals for personal gain. They also suspect shady deals by company bosses to avoid paying back investors.
"The directors/promoters of International Recreation and Amusement Ltd siphoned off more than Rs 400 cr [belonging to investors of sector 29 and 52-A, Gurugram project] with a premeditated intent to park the investors funds with other related entities and then sell off the company at cheap valuations and get rid of all the liabilities of investors," the ED alleged.