An Omkar Group representative said, “We are yet to receive any communication from ED. We are emphatic that Omkar Group is not in violation of any lending norms and slum approvals.”
MUMBAI: After a day of intense questioning, the Enforcement Directorate (ED) arrested Omkar Group chairman Kamal Kishor Gupta and managing director Babulal Varma on Wednesday in a Rs 410 crore money laundering case linked to a slum redevelopment project at Wadala. ED will produce them before the special court on Thursday.
The complainant in the case is Aurangabad-based businessman Mahendra Surana who had invested in the Wadala project. Surana had filed a cheating case against Omkar Group and its senior office bearers in March 2020, on the basis of which ED has registered a money laundering case.
Synopsis
The central probe agency produced the duo before the special PMLA court, presided over by judge A A Nandgoankar, and sought their remand for interrogation.
Agencies
Mumbai: A special court here on Thursday remanded the chairman and the managing director (MD) of city- based Omkar Realtors and Developers to the ED custody till January 30 in connection with a money laundering case linked to the alleged loan fraud in
The chairman of the company, Kamal Kishore Gupta, and MD Babulal Varma were arrested hereon Wednesday by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA).
The central probe agency produced the duo before the special PMLA court, presided over by judge A A Nandgoankar, and sought their remand for interrogation.
ED arrests promoters of Omkar Group under PMLA ANI | Updated: Jan 28, 2021 23:24 IST
New Delhi [India], January 28 (ANI): Enforcement Directorate (ED) has arrested Babulal Varma and Kamal Kishore Gupta, promoters of M/s Omkar Group, under the provisions of Prevention of Money Laundering Act, 2002 (PMLA).
According to an official release, both the accused were produced before the PMLA court, Mumbai today and Special Judge (PMLA) was pleased to grant ED custody of both the accused till January 30.
The ED initiated the investigation on the basis of FIR registered by Aurangabad, Police, Maharashtra under Section 34, 406, and 420 of IPC against promoters of M/s Omkar Group.
2 executives of Omkar Relators sent to ED custody in money laundering case
2 executives of Omkar Relators sent to ED custody in money laundering case
Prominent real-estate giant Omkar Group diverted Rs 410 crore on the name of developing slums in Mumbai, said the Enforcement Directorate (ED).
advertisement
Kamal Kishore and Babulal Verma (Munish Chandra Pandey)
Prominent real-estate giant Omkar Group diverted Rs 410 crore on the name of developing slums in Mumbai, said the Enforcement Directorate (ED). The financial probe agency also claimed that Omkar Group forged the documents relating to names of slum-dwellers to get more loans from the bank.
A special court in Mumbai on Thursday sent the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers - Babulal Varma and Kamal Kishore Gupta - to the ED custody till January 30, a day after they were arrested in a money laundering case.
A special court in Mumbai on Thursday sent the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers to the Enforcement Directorate custody till January 30, a day after they were arrested in a money laundering case. The accused Kamal Kishore Gupta (chairman) and Babulal Varma (managing director) were arrested for their involvement in the offence of money laundering and produced before the PMLA court, Mumbai, the central probe agency said in a statement. Special court judge A A Nandgoankar sent the duo to the ED custody till January 30, it said. The ED arrested the duo on Wednesday in a case of money laundering linked to alleged irregularities in the development of a housing society in Mumbai under a Slum Rehabilitation Authority (SRA) scheme.