Enforcement Directorate seizes properties worth over ₹290 crore from International Amusement Limited under PMLA for alleged non-delivery of promised projects.
The Enforcement Directorate (ED) has seized properties worth over ₹290 crore from International Amusement Limited (IAL), a company providing amusement and recreation services. The ED action was taken under the Prevention of Money Laundering Act (PMLA) after IAL was accused of collecting over ₹400 crore from around 1,500 investors, promising to allocate shops and other spaces in Gurugram, but allegedly failing to deliver the projects and missing deadlines. The attached properties include the unsold commercial space at Great India Place Mall in Noida, commercial space in Rohini, and leasehold rights over 218 acres of land in Jaipur.
May 30, 2024
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