Homebuyers' funds fraud case: ED conducts raids linked to RJD family associate. Details here
Sources indicate that 27 properties owned by Krishn Buildtech Pvt Ltd, headquartered in Haryana, are currently under investigation in Delhi, Gurugram, and Sonipat under the Prevention of Money Laundering Act (PMLA). The company's founders are Amit Katyal and Rajesh Katyal.
The investigation concerns the suspected transfer of ₹400 crore from homebuyers' funds by the company's promoters, who allegedly sent the funds abroad for storage.
Land for jobs scam
The case dates back to when Prasad was the railway minister in the UPA-1 government. Allegedly, between 2004 and 2009, individuals were appointed to Group "D" positions across Indian Railways zones.
It's claimed they transferred their land to Prasad's family and A K Infosystems Private Limited in exchange. The Enforcement Directorate's (ED) case, filed under criminal sections of the Prevention of Money Laundering Act (PMLA), stems from a complaint by the Central Bureau of Investigation (CBI).
According to the CBI, appointments were made without public notices, with residents of Patna often appointed as substitutes in various zonal railways. These appointees, it's alleged, sold land to Prasad's family at significantly reduced rates compared to market prices, ranging from one-fourth to one-fifth.
The agency claims that Amit Katyal transferred over ₹200 crore from homebuyers' funds to Sri Lanka.
His son, Krishan Katyal, reportedly surrendered his Indian passport and obtained one from Saint Kitts and Nevis. -With agency inputs
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