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ED auctions aircraft in Rs 792 Cr scam recovery
3 Jul
Summary
- Enforcement Directorate auctioned a Hawker 800A aircraft for Rs 3 crore.
- This is the first aircraft auction conducted by the ED.
- Proceeds will compensate investors defrauded in a Rs 792 crore scam.
The Enforcement Directorate (ED) has achieved a significant milestone by auctioning a Hawker 800A aircraft for Rs 3 crore. This is the first time the ED has disposed of an aircraft, utilizing the services of MSTC Ltd for the sale. The aircraft was seized on March 7, 2025, at Rajeev Gandhi International Airport as part of a Prevention of Money Laundering Act (PMLA) case.
The case involves Capital Protection Force Pvt Ltd, a Hyderabad-based company, and its CMD Amardeep Kumar, accused of orchestrating a bogus invoice discounting scheme. The company allegedly defrauded investors of Rs 792 crore through a Ponzi scheme, falsely promising higher returns. The ED initiated the PMLA case based on multiple FIRs filed by the Economic Offence Wing, Cyberabad.
Following an Adjudicating Authority order from November 20, 2025, the Rs 3 crore sale consideration will be used for restitution to genuine investors. This process is subject to the leave of the special court under the PMLA, 2002. The ED has previously arrested three other individuals involved in the scam and filed a Prosecution Complaint on September 29, 2025.
