When people think they can con innocent investors and use their money to fund their lavish lifestyles without any repercussions, they are proven wrong. Recently, the ED (Enforcement Directorate) managed to seize not one, not two, but a total of four luxury cars worth crores from an infrastructure company as it duped investors of Rs 500 crores. The ED has also frozen a number of assets related to this company, including properties, FDs, and bank lockers.
ED, Gurugram has conducted search and seizure operations under the provisions of PMLA, 2002 on 25.11.2024 at 14 locations in Delhi, NCR region against M/s Orris Infrastructure Private Limited& Directors/Promoters viz. Vijay Gupta, Amit Gupta etc. and M/s Three C Shelters Private… pic.twitter.com/3dvN6rZRl1
— ED (@dir_ed) December 3, 2024
ED Seizes Porsche, BMW, and Mercedes
The Enforcement Directorate, via their X page, shared a few pictures of the seized assets from two Gurugram-based companies. As per the ED, M/s Orris Infrastructure Private Limited, with directors and promoters Vijay Gupta and Amit Gupta, and M/s Three C Shelters Private Limited, with directors and promoters Nirmal Singh Uppal and Vidhur Bhardwaj, along with others, are involved in a Rs 500 crore real estate fraud.
Both of these companies are involved in multiple infrastructure projects in Gurugram, Haryana, and have been accused of not delivering flats to their investors. Following multiple complaints from the buyers of the flats, the ED conducted search and seizure operations under the PMLA, 2002, on November 25.
When Did ED Conduct the Search and What Was Seized?
As per the reports, a total of 14 sites in Delhi-NCR were searched by the ED. These included multiple offices and residences of the parties involved in this Rs 500 crore scam. In total, the ED managed to seize fixed deposits and bank guarantees worth Rs 31.22 crore, all linked to Orris Infrastructure.
Four Luxury Cars Also Seized
Coming to the main highlight, the Enforcement Directorate has also seized four luxury cars, including a Porsche Cayenne, a Mercedes-Benz GLS, a Mercedes-Benz E-Class, and a BMW 5-Series. All of these cars were seized from one of the directors’ houses.
It appears that the Porsche Cayenne that has been seized is the GTS variant. This particular SUV in India is priced at Rs 2 crore. It comes equipped with a massive 4.0-litre twin-turbo V8 engine capable of producing 493 bhp and 660 Nm of torque. It can sprint from 0–100 kmph in just 4.4 seconds.
As for the Mercedes-Benz GLS, the SUV is priced in the range of Rs 1.3–1.4 crore. It comes with both a petrol and a diesel motor. The petrol engine produces 375 bhp and 500 Nm of torque. Meanwhile, the diesel motor is capable of making 362 bhp and 750 Nm of torque. Both come mated to a 9-speed gearbox.
The ED has also seized two sedans linked to this case. The first is a Mercedes-Benz E-Class, and the other is a BMW 5-Series. The former is priced in the range of Rs 78–92 lakh, while the latter is priced in the range of Rs 52–70 lakh.
Apart from these, bank accounts and lockers, incriminating documents, property documents, and digital devices, which are currently under forensic examination, have been seized as well. The ED is currently reviewing all the seized documents and devices.
What Happens to These Seized Cars?
When the ED seizes the assets of people it has charged under the PMLA (Prevention of Money Laundering Act), it keeps all the seized assets under its custody. Cars, in general, are kept in designated storage facilities, and the condition of the vehicles is noted in great detail.
The ED is then required to confirm the attachment of such cars and other assets related to the case. They have to prove that these assets were obtained from the proceeds of ill-gotten money. If they can do this, the vehicles are then sent to auction. However, if the assets are found unrelated to money laundering, these vehicles are returned to the owners.
