Ahmedabad, Aug 17 (IANS) In a fresh action in a real estate fraud in Ahmedabad, the ED attached immovable properties worth Rs 129.80 crore linked to Ronak Ravjibhai Sonani, Vipulbhai Gordhanbhai Gangani, Keshav Narayan Group and others, an official said on Monday.
The Directorate of Enforcement (ED), Ahmedabad Zonal Office, issued the Provisional Attachment Order dated August 14 under Section 5(1) of the Prevention of Money Laundering Act, 2002, the ED said in a statement.
The order was issued in the case related to real estate fraud committed against homebuyers and investors in Ahmedabad.
The ED initiated the investigation based on five FIRs registered by DCB Police Station, Satellite Police Station, Navrangpura Police Station and Bopal Police Station, Ahmedabad.
The ED also filed chargesheets against Ronak Sonani, Vipul Gangani and others for offences under various Sections of the Bharatiya Nyaya Sanhita, 2023, the ED said.
The ED investigation revealed that the accused persons cheated ordinary homebuyers, small investors, traders and middle-class families. They projected their real estate schemes as genuine projects.
They offered flats and shops at attractive pre-launch prices. They also promised assured returns ranging from 54 per cent to 100 per cent, the ED said.
However, the projects were marketed without mandatory approvals such as N.A. permission and RERA registration. In the Chharodi scheme, the ED said it collected money from about 250 buyers/investors.
In the Akshar Anant scheme, the accused collected money from more than 44 buyers/investors. The promised flats and shops were not delivered. The money collected from buyers was also not refunded, it said.
Investigation revealed that the accused followed a planned method. They induced buyers with false promises, collected money, diverted the funds, and then tried to hide the properties acquired with those funds, the ED said.
In the Chharodi project, buyers were told that RERA registration and N.A. permission were “under process”. Later, the land meant for the project was sold or transferred to Keval Mahendrabhai Patel, Ashish Vishnubhai Patel and others, leaving the buyers stranded, the ED said.
In the Akshar Anant project at Shela, MoUs and similar documents were also issued to make the project look genuine. Thereafter, the project was shut down, and the land was transferred to Purav Rameshchandra Patel, Diprajvirsinh Vikramsinh Zala, Mahendrasinh Pradhumansinh Chudasma and others, the ED said.
The ED found that the accused transferred properties to third parties through dummy sale deeds without genuine payment. The ED said fictitious payment details were shown in registered documents to make the transactions appear legal.
–IANS
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