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ED auctions seized business jet for Rs 3-cr in Ponzi case
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....D auctions seized business jet for Rs 3-cr in Ponzi case<BR>PMLA / Black Money<BR>Dated:- 3-7-2026<BR>PTI<BR>New Delhi, Jul 3 (PTI) The Enforcement Directorate (ED) on Friday said it has auctioned a seized business plane for Rs 3 crore as part of a money laundering investigation against a Hyderabad-based company and its promoters on charges of duping investors through a multi-crore Ponzi scheme. ....
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.... The Hawker 800A aircraft, parked at the Rajeev Gandhi International Airport at Shamshabad in Telangana's capital city, was seized by the central agency's Hyderabad zonal office in March 2025 during searches in the case against the company named Capital Protection Force Pvt. Ltd. The ED subsequently moved an application before the Adjudicating Authority of the Prevention of Money Laundering (T....
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....aking possession of attached or frozen properties confirmed by the Adjudicating Authority) Rules, 2013, seeking permission to sell the seized aircraft, the agency said in a statement. The adjudicating authority allowed the ED to auction the seized aircraft in November 2025, it said. The plane was auctioned through Metal Scrap Trade Corporation Ltd (MSTC) on July 1 for a sale consideration of....
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.... Rs 3 crore, according to the ED. This money shall be utilised by the ED for restitution to the genuine investors in accordance with the provisions of the PMLA, subject to the leave of the Special Court established under the anti-money laundering law, it said. The money laundering case stems from an FIR filed by the EOW of Cyberabad Police against Capital Protection Force Pvt. Ltd. (Falcon G....
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....roup), its CMD Amardeep Kumar and some others. It was alleged that the accused "defrauded" a large number of investors through a Ponzi scheme to the tune of Rs 792 crore on the pretext of returning a higher amount to the investors that was received under an invoice discounting scheme, though no such actual business was carried out. The agency had arrested three persons in this case including....
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.... Kumar's brother Sandeep Kumar, Chartered Accountant Sharad Chandra Toshniwal and CEO of Falcon Invoice Discounting Aryan Singh Chhabra. It also filed a charge sheet in this case in September last year. PTI NES ZMN =============<BR> News - Press release - PIB....