ED seizes five luxury cars, documents from foreign bank accounts of Amit Katyal linked to RJD chief

New Delhi [India], March 14 : The Enforcement Directorate (ED) has seized five luxury cars, digital devices and documents related to foreign bank accounts in a massive raid conducted two days ago in Gurugram, Delhi and Sonipat (Haryana) under money laundering case against Amit Katyal, reportedly associated with Rashtriya Janata Dal (RJD) supremo Lalu Prasad Yadav's family, the agency said.
The documents related to foreign bank accounts were from London, St Kitts and Nevis, and Sri Lanka.
In the raids conducted on March 12, the agency further said, it also recovered incriminating pieces of evidence, jewellery and coins worth Rs 2.41 crore, cash worth Rs 31.94 lakh.
The five luxury cars and SUVs seized during the raids included Bentley and Mercedes.
The raids, conducted under the provisions of Prevention of Money Laundering Act, 2002, was part of ED's probe in the case of Amit Katyal, Krrish Realtech Pvt Ltd and Brahma City Pvt Ltd in connection with siphoning of homebuyers and plot buyers money.
ED's Gurugram unit conducted the search operations based on its investigation initiated based on several First Information Reports registered by Gurugram Police and Economic Offences Wing, New Delhi under various sections of the Indian Penal Code against Amit Katyal, Rajesh Katyal and their associates.
It is alleged that Krrish Realtech Pvt Ltd and Brahma City Pvt Ltd (involved in the Real Estate Business) acting through their directors, group accomplices, and sister concerns have duped the investors and purchasers at large and wrongfully diverted hundreds of crores of funds abroad through criminal conspiracy, misrepresentation, fraud and cheating.
Krrish Group had several Real Estate projects in Gurugram and the delivery of projects and plots have not been done for the last 10-12 years, said the ED.
During the search operation, the ED said, incriminating evidences relating to the misappropriation of the plot buyer's fund for the personal benefits of Amit Katyal, Rajesh Katyal, Krishan Katyal and other family members have been found.
"The evidence also revealed the trail of the proceeds of crime so taken from the plot buyers which were invested abroad including investment of more than Rs 200 crore in Sri Lanka, London and St. Kitts & Nevis through a web of shell companies," said the agency.
Evidence also revealed several benami transactions through sister concerns for personal gains of the Katyal family which led to the unearthing of undisclosed assets such as a flat in Mumbai and a flat in Kolkata held in the names of relatives and concerns.
ED said that recovery of documents related to foreign bank accounts in London, St Kitts and Nevis, and Srilanka have been found where buyers' funds are suspected to be parked.
As per the agency, the Katyal family has parked a buyers' fund in the name of his son Krishan Katyal who took citizenship of St Kitts and Nevis at the age of 18 years by surrendering his Indian passport which showed deliberate intention and planned fraud of homebuyers' and plot buyers' money.
"More than Rs 200 Crore have been parked in Srilanka in a company whose shareholding was fraudulently transferred to his son using his dummy company abroad," added the agency.
Amit Katyal was arrested by the agency last year in connection with the alleged railways land-for-jobs scam, which also involved Lalu Prasad Yadav, his wife Rabri Devi, son Tejashwi Yadav, daughter Misa Bharti, and others.