NEW DELHI: In connection with its investigation into the money laundering cases initiated against Manish Sharma, Navin Beri, his partnership firm Lavanya Travels, and Arvind Chadha, the Enforcement Directorate (ED) on Monday said it has provisionally attached movable and immovable assets worth Rs 24.39 crore belonging to the Sanskar Group, a proprietorship concern of Manish Sharma, Navin Beri, his partnership firm Lavanya Travels, and Arvind Chadha.
Villas and flats in Goa, flats and office space in Delhi and Faridabad, and fixed deposits are among the linked assets. The ED initiated the money laundering probe after the Goa Police filed multiple FIRs under various sections of the IPC against Sharma, Beri, and Chadha for defrauding investors out of Rs 10 crore by offering them villas in the Sanskar Group's Banjara Hills Project in Anjuna, Goa.
During the inquiry, the ED found that Sharma and the buyers signed a 'sale agreement' and a 'sale deed' before the civil-cum-sub registrar, with the buyers committing to deliver the villas within a certain time frame. When the project was roughly 60% to 70% complete, Sharma and Beri, in collusion with the bank manager of Jammu and Kashmir Bank, mortgaged the Banjara Hills project to Jammu and Kashmir Bank Ltd, Panaji, and obtained a Rs 20 crore loan by falsifying documents.
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