GURUGRAM: The Enforcement Directorate (ED) on Thursday conducted searches at the residence and farmhouse of former Haryana minister Gopal Kanda in Gurugram as part of a money laundering investigation linked to an alleged real estate fraud, officials said.
The searches were carried out in connection with a case against realty company Vatika Limited, which allegedly induced investors to put money into commercial projects by promising timely possession, assured returns, lease rentals and execution of sale deeds, the officials said.
The four projects under investigation involved collection of Rs 248.46 crore from 661 investors, without handing over possession or executing the promised sale deeds till date, an ED official said.
The home, farmhouse and office of Kanda in Gurugram were raided as part of tracking the money trail in the case, as it is suspected that diverted funds from the real estate company were transferred to various companies linked to the former minister, the officials said.