Home / Crime and Justice / ED Seizes Luxury Flat in Rs 54 Crore Money Laundering Case
ED Seizes Luxury Flat in Rs 54 Crore Money Laundering Case
19 Jan
Summary
- Luxury apartment in Gurugram seized by ED under PMLA.
- Over Rs 54 crore in assets, including a Rs 40.57 crore apartment, attached.
- Probe initiated based on FIRs alleging diversion of Rs 505 crore loans.
The Enforcement Directorate (ED) has attached a luxury apartment in Gurugram's DLF The Camellias, valued at Rs 40.57 crore, along with Rs 14.28 crore in bank balances. These assets, totaling over Rs 54 crore, are linked to the Gensol Group and are provisionally seized under the Prevention of Money Laundering Act (PMLA) due to alleged financial irregularities.
The investigation stems from FIRs registered by the Delhi Police, accusing Gensol Engineering Ltd and its associates of criminal conspiracy. The ED alleges that funds from government-backed lenders like IREDA and PFC, intended for expanding an electric vehicle fleet, were diverted through a network of companies, including Go Auto Pvt Ltd.
This alleged diversion resulted in loan accounts becoming non-performing assets, causing substantial losses to the lenders, with Gensol Engineering Ltd owing Rs 505.27 crore as of December 2025. The luxury apartment was reportedly acquired using a portion of these diverted funds, and further investigation into alleged benami entities and employee accounts is ongoing.
