ED raids infra firm’s office, other properties

LUCKNOW : Enforcement Directorate (ED) sleuths carried out raids at several places owned by a city-based infrastructure development firm here late on Thursday night. The firm is accused of vanishing with around Rs 700 crore of thousand of investors from all over Uttar Pradesh as well as other states.

LUCKNOW: Enforcement Directorate (ED) sleuths carried out raids at several places owned by a city based infrastructure development firm here late on Thursday night.

The firm is accused of vanishing with around Rs 700 crore of thousand of investors from all over Uttar Pradesh as well as other states.

The ED acted after a police complaint was registered against the firm, JKV Land Infrastructure Development Private Limited, and its director for fraud and forgery by floating multiple investment schemes in Mau district a few weeks ago. The firm is owned by Mau couple Rajesh Kumar Singh and Priyanka Singh.

The ED officials said the firm had promised house as well as returns for the entire invested amount within a certain time period.

The investors alleged that the firm owners disappeared when they started demanding their returns.

The raids were carried at the firm’s office in Janakipuram and other places in Sahara Estate and other parts of the city.

The firm had also built a multi storey residential apartment that has around 70 flats, near Tedipulia on Ring Road in Lucknow.

The ED officials seized around Rs 25 lakh cash and other important documents related to the firm’s functioning and the assets made in the firm and its two directors.