ED attaches properties worth over Rs 110 cr in UP investment fraud case

The Lucknow Zonal Office of the Enforcement Directorate (ED) announced on Thursday that it has attached immovable properties worth Rs 110.05 crore, with a current market value exceeding Rs 300 crore. This action is part of a money laundering investigation into Rohtas Project Limited and others.

A senior ED official stated that the properties are registered in the names of associate companies of the Rohtas Group and two Limited Liability Partnerships (LLPs)—Amalya Constructions LLP and Amyra Infrastructure LLP—all of which are controlled by the LJK Group. All the attached properties are located in Lucknow.

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The ED initiated its investigation based on 83 First Information Reports (FIRs) registered by the Uttar Pradesh Police under various sections of the Indian Penal Code. The case revolves around two township schemes floated by Rohtas Project Limited: the ‘Sultanpur Road Project’ and the ‘Raebareli Road Project’. The company offered customers plots of land with a promise that after 30 months, they could either take possession of the plot or receive a lump-sum payment of 150% of their booking amount. However, the projects were never developed, and the money was not returned to the customers.

The ED’s investigation revealed that the promoters of the Rohtas Group diverted funds collected from buyers to acquire lands in the names of their associate companies and benamidars (proxy holders). Shares of these associate companies, which hold land assets of more than 100 bighas, were subsequently transferred to the LJK Group. Similarly, benami lands belonging to the Rohtas Group were later transferred to LLPs—Amalya Constructions and Amyra Infrastructure—which are also controlled by the LJK Group.

Further investigation into the matter is underway.