Panchkula. Amidst tight security, ED arrested M3M promoter Roop Kumar Bansal and presented him in Panchkula district court. After presenting Bansal, ED got his 7-day remand.
ED will now interrogate Roop Bansal, an accused in the Rs 400 crore money laundering case. The arrest has been made on charges of cheating and money laundering from investors and flat buyers.
Earlier, ED had conducted raids at 7 places in Delhi and Gurugram in connection with the IAO and M3M case. Central agency ED has included 17 expensive vehicles in this raid.
At the same time, jewelery worth 5.75 crores and 15 lakh cash were also seized. In the investigation against M3M Group, ED has come to know that this group has sold the development rights of 4 crores of land in Gurugram to five fake shell companies for 10 crores. .
After this, these five companies fraudulently sold the development rights of land worth 4 crores to IREO Group for 400 crores, that is, the deal was done at 400 times more.
