ED attaches immovable properties of Shinecity group firms
Nov 24, 2022
New Delhi [India], November 24 : The Directorate of Enforcement (ED) on Thursday said it has provisionally attached various immovable properties in the form of 41.63-hectare land in the name of Shinecity firm companies. The agency said the quantum of total attachment so far in the case is about Rs 49 crore.
The value of the 41.63-hectare land stands at Rs 31.24 crore. One residential plot in the name of Amitabh Kumar Srivastava at Lucknow, with a value of Rs 23.70 lakh has also been attached provisionally.
These group companies are Shinecity Infraprojects, Shinecity Proxima Developers, Shinecity Shapers, Shinecity Construction in Sultanpur, Jhansi, Pratapgarh, Pindra (Varanasi), Bara (Allahabad) and Bakshi Ka Talaab (Lucknow), with their land measuring 41.63 hectare in total.
Prevention of Money Laundering investigation was initiated on the basis of various FIRs and complaints, said the statement from the agency, adding it was registered by UP Police against Shine City Infra Project, Rashid Naseem, Asif Naeem, Amitabh Kumar Srivastava and others, for cheating the public at large by luring them to invest in various lucrative schemes floated by the company and defrauding them of their invested amount. The quantum of proceeds of crime at this stage of investigation is about Rs 80.78 crore.
ED also said it had already attached various immovable properties in the name of Shinecity Group companies at Lucknow and Varanasi. The agency said further investigation is in progress.
