New Delhi, March 17
Directorate of Enforcement (ED) restituted properties worth Rs. 52.31 crore to the Competent Authority, MPID appointed by Government of Maharashtra in the case of M/s Aryarup Tourism and Club Resort Pvt. Ltd.
ED investigations revealed that M/s Aryarup Tourism and Club Resort Pvt. Ltd and others have floated different schemes to attract investments from the general public with assurance of high returns to the investors. However the company and promoters cheated the general public by not giving the returns and in
turn diverted and routed the Proceeds of Crime (POC) for the purchase of immovable properties at different
locations. Further POC were parked in different benami accounts.
These bank balances along with immovable properties situated in Rajasthan and Thane worth Rs. 29.20 crore were attached u/s 5 of PMLA vide 3 attachments orders during 2013-14. Further Prosecution complaint dated 03.04.2014 has been filed in the subject case before the Hon’ble Special Court (PMLA). Thereafter, the Hon’ble Special Court (PMLA) ordered confiscation of the attached properties to the Central Government u/s 8 (8) of the PMLA vide order dated 07.04.2021. In the meantime, the victims of the scam were waiting for their claim.
Considering the genuine cause of the depositors and for the purpose of restituting the proceeds of crime back to the legitimate bona fide depositors, various meetings were conducted by the ED with the MPID competent Authority and they were encouraged to file Restitution/ Restoration application before the PMLA court.
Consequently, an application was moved by the MPID competent Authority before the Hon’ble Special Court, PMLA Mumbai to modify the order dated 07.04.2021 and praying for handover of properties to MPID.
In the larger interest of depositors and currently ongoing restitutionefforts, ED took a pragmatic view and supported the application moved by the MPID Authority by filing an affidavit before the PMLA Mumbai to hand over the properties to them so that the same can be restituted to the legitimate bona fide depositors.
Thus on the basis of ED’s affidavit, the Hon’ble Special Court (PMLA) vide order dated 11.03.2025, ordered the handing over of immovable and movable properties which are presently valued at Rs. 52.31 crore to the Competent Authority under MPID Act, 1999.
