ED arrests Omkar Realtors MD and Chairman in Rs 22000 cr SRA scam case
ED arrests Omkar Realtors MD and Chairman in Rs 22000 cr SRA scam case
ED has arrested MD and Chairman of Omkar Group, one of the leading builders in Mumbai. The group is allegedly involved in the misuse of permissions given for SRA (Slum Rehabilitation Authority) projects in Mumbai
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UPDATED: January 28, 2021 00:04 IST
O Monday, several teams of ED conducted searches at seven residential and three official premises linked to Omkar Group and its executives in Mumbai.(Photo for representation)
The Enforcement Directorate (ED) has arrested the Chairman and Managing Director of one of the most prominent developers in Mumbai. Kamal Gupta Chairman of, Omkar Realtors and Developers and Babulal Verma who is Managing Director of the firm have been placed under arrest after searches went on at the premises offices of Omkar group for almost three days starting Monday.
p ED sources stated that Omkar Group misused various permissions given under the SRA schemes, diverted bank funds and defaulted on the payment. br /p
MUMBAI: The Enforcement Directorate (ED) on Monday searched 10 premises of Omkar Developers in a suspected money-laundering case arising out of a Slum Rehabilitation Authority (SRA) scheme fraud and diverting Rs 450 crore bank loan for purposes other than declared.
ED sources stated that Omkar Group misused various permissions given under the SRA schemes, diverted bank funds and defaulted on the payment. The ED is also investigating various other financial irregularities of the builder.Among the premises raided, seven are residences and three offices belonging to the group’s chairman Kamal Kishor Gupta and managing director Babulal Varma.
Mumbai: ED raids 10 premises of Omkar Group in money laundering case
Mumbai: ED raids 10 premises of Omkar Group in money laundering case
The group, one of the leading builders in Mumbai, is alleged to have committed a fraud worth Rs 22,000 crore under Slum Rehabilitation Authority (SRA) schemes
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Senior ED officials said the group allegedly misused various permissions given under SRA schemes (Representational)
The Enforcement Directorate on Monday conducted raids at 10 premises of Omkar Group in connection with a money laundering case. The group, one of the leading builders in Mumbai, is alleged to have committed a fraud worth Rs 22,000 crore under the Slum Rehabilitation Authority (SRA) schemes.