'Fraud' with home buyers: ED attaches assets worth Rs 423 crore in Karnataka
New Delhi (PTI): Unsold flats and lands worth more than Rs 423 crore of the promoters of a Karnataka-based real estate firm were attached under the anti-money laundering law on Saturday in a case linked to alleged duping of homebuyers, the Enforcement Directorate (ED) said.
The action has been taken against Bengaluru-based Ozone Urbana Infra Developers and its main promoter S Vadudevan.
A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach the unsold stock in the Avenue (92 flats) and Aqua 2 projects (13 flats) of the company apart from 4.5 acres of commercial land and personal properties of Vasudevan, the ED said in a statement.
The attachment also includes the assets of Vasudevan's wife -- 179 acres of land in Kannehalli village, Mudigere (Chikkamagaluru district).
The total value of these properties is Rs 423.38 crore, the agency said.
The money laundering case stems from a CBI FIR that was registered on the directions of the Supreme Court, it said.
The ED had conducted searches in this case in August.
The company and Vasudevan "defrauded" home buyers to the tune of Rs 927.22 crore and "did not" deliver possession of apartments/units against the said money, thereby dishonestly retaining and diverting the funds, the ED alleged.
"The accused diverted the funds to other group entities and associated individuals, including Vasudevan himself, and his family members.
"Therefore, the company and Vasudevan generated proceeds of crime of Rs 927.22 crore and routed the same through various entities and used for the purpose other than the funds actually meant for, ie, construction and development of realty projects," the federal probe agency said.
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Mangaluru: Teacher booked for allegedly beating student in school
Vittla (Dakshina Kannada): A case has been registered at the Vittla Police Station against a school teacher on charges of seriously assaulting a student with a cane at an English-medium school in Idkidu village here near Vittla in Dakshina Kannada district.
According to the complaint, the student, who attends the school regularly, had gone to school as usual. Around 2 pm, the child’s parents received a call from the school office stating that their child had allegedly disturbed other students. The school informed them that when the teacher scolded the student over the issue, the child became frightened and urinated, and the parents were asked to come and take the child home.
The parents reportedly told the school staff that no one was at home at the time and requested that the child be sent home in an autorickshaw.
After returning home, the student told the parents that a teacher identified as Istikaar had beaten him severely on the hand with a cane. The child also said that he urinated out of fear while the assault was taking place.
When the parents contacted the teacher over the phone to question him about the incident, he allegedly responded in a dismissive manner.
Following this, the parents lodged complaints with the Vittla Police Station and the Child Development Project Office, seeking justice and strict action against the teacher for allegedly assaulting the child without any valid reason.
Police have registered a case against the teacher and have taken up further investigation.
