ED arrests Amit Katyal in Gurgaon housing ‘scam’
Earlier, in Nov 2023 he was arrested in the railways jobs-for-land scam in which Lalu, his wife, three daughters and son and former Bihar deputy CM Tejashwi Yadav are accused, facing bribery and money laundering charges. A third real estate project, Krishn Buildtech Pvt Ltd, in which Katyal is accused of laundering more than Rs 400 crore of homebuyers’ money, is pending framing of charges.On Monday, Katyal was arrested in alleged real estate fraud related to Angle Infrastructure Pvt Ltd of which he is the promoter director. The ED’s case is based on FIRs registered by the Gurgaon and Delhi Police for alleged non-delivery of flats in his Krrish Florence Estate project spread over 14 acres in Sector 70 of Gurgaon.“Investigation revealed that he (Katyal) obtained license from another developer in a fraudulent manner and started collecting funds from prospective buyers much before grant of license from DTCP Haryana with total proceeds of crime generated from the activity exceeding Rs 300 crore,” ED has said. The project was left incomplete for more than 10 years with only three towers constructed but not completed, and the same had resulted into initiation of insolvency proceedings by homebuyers’ association.The agency in its remand note has also alleged other fraudulent deals by Katyal where he had made illegal bookings to third parties and indulged in diversion of funds.
