Officials from the Enforcement Directorate (ED) stated on Tuesday that its Hyderabad Zonal Office has put a seized aircraft up for auction through MSTC Limited. The official said the seized aircraft is currently parked at Begumpet Airport in Hyderabad and is available for inspection until December 7.
“The auction via MSTC is scheduled for December 9. The link for participating is ‘MSTC/HYD/Directorate of Enforcement/3/Hyderabad/25-26/45608’. The proceeds from the sale will eventually be used to provide restitution to the victims of the scam,” the official said.
The ED seized the aircraft (Hawker 800A) from Rajiv Gandhi International Airport during a search operation on March 7 in a case against Amardeep Kumar, Capital Protection Force Pvt Ltd., and others.
The ED initiated its investigation based on multiple FIRs lodged by the Economic Offences Wing of Cyberabad against the Falcon Group (Capital Protection Force Pvt Ltd), its CMD Amardeep Kumar, and others for defrauding investors through a bogus invoice discounting scheme.
The ED investigation revealed that Amardeep Kumar launched a scheme called ‘Falcon Invoice Discounting’ and duped gullible investors of Rs 792 crore. During the probe, it was found that Kumar fled the country in the same aircraft before the FIRs were registered and is currently absconding abroad.
During the investigation, the ED has provisionally attached properties worth Rs 18.63 crore in the case and arrested three accused: Sandeep Kumar (brother of Amardeep Kumar); Sharad Chandra Toshniwal, a Chartered Accountant; and Aryan Singh Chhabra, COO of Capital Protection Force Pvt Ltd. A Prosecution Complaint was also filed by the ED before the Special PMLA Court in Rangareddy on September 29.
The ED investigation further revealed that the aircraft in question was purchased by Amardeep Kumar in 2024 for USD 1.6 million. Following the seizure, the ED filed an original application before the adjudicating authority under the PMLA.
Subsequently, the ED moved an application before the adjudicating authority under Rule 4(2) of the Prevention of Money Laundering (Taking possession of attached or frozen properties confirmed by the Adjudicating Authority) Rules, 2013, seeking permission to sell the seized aircraft. This rule allows for the sale of a confirmed attached property if it is subject to speedy and natural decay or if its maintenance costs are likely to exceed its value.
“The Adjudicating Authority, PMLA, vide order dated 20.11.2025, permitted the ED’s Hyderabad Zonal Office to auction the seized aircraft. Further investigation in the case is in progress,” the official said.