New Delhi: The Enforcement Directorate has attached immovable properties, including unsold commercial spaces in the Great India Place Mall in Uttar Pradesh’s Noida and Adventure Island in Delhi’s Rohini, in the nearly six-year old Appu Ghar cheating case.
The agency said that the attachment was done based on a provisional order of 28 May. The attached unsold space in the Noida mall is spread over nearly four lakh square feet, while the size of the attachment at Rohini’s adventure park is nearly 45,000 square feet.
This is the latest action against the promoters and directors of International Recreation and Amusement Ltd (IRAL), the promoters of Appu Ghar in Gurugram, which was sealed by Gurugram authorities in 2022 over non-payment of dues.
Sources in Gurugram Police told ThePrint that more than 30 cases were filed by the police between 2018 to 2022, based on the order of Punjab and Haryana High Court, which was hearing pleas filed by investors, who had alleged lack of allotment of affordable housing and returns of their investments by IRAL promoters.
Three of the promoters of IRAL and its holding company, International Amusement Limited (IAL) — Gyan Vijeshwar, Robin Vijeshwar and Monny Vijeshwar — were arrested by Gurugram Police in February last year. They are currently out on bail.
What ED found in its investigation
The agency said, in a statement issued Thursday, that IRAL’s promoters had amassed more than Rs 400 crore from approximately 1,500 investors on the pretext of allotting them shops or premises in business zones — Sector 29 and 52-A — of Gurugram, which they failed to deliver.
Additionally, they had also missed paying assured monthly returns to the investors. ED alleged that the funds raised from investors were diverted for personal gains by the promoters.
“ED investigation shows that the Directors/ Promoters of M/s International Recreation and Amusement Ltd. siphoned off more than Rs 400 crore [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 agency’s statement read.
(Edited by Mannat Chugh)
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