The Directorate of Enforcement (ED), Delhi Zonal Office, has taken significant action in the ongoing investigation of the Bike Bot Scam under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. Immovable assets totaling Rs. 4.72 Crore have been attached, comprising seven properties, including industrial and agricultural land located at Khurja, Bulandshahar, U.P. These properties, held under the name of M/s DSM Infracon Pvt. Ltd., are beneficially owned by Dhirendra Pal Solanki.

The investigation by the ED was initiated following multiple FIRs registered by the Uttar Pradesh Police regarding the Bike Bot scam involving M/s Garvit Innovative Promoters Ltd. (GIPL) and its promoter, Sanjay Bhati, along with several other accused individuals. These FIRs alleged that GIPL promised assured returns to investors, deceiving them into investing their money with the company, only to defraud them by failing to fulfill their promises.

During the ED's investigation, it was revealed that the accused company utilized various bank accounts to collect funds from the public and redirect them to repay initial investors, in an attempt to gain trust and attract further investments. These funds were then used to acquire various assets, both movable and immovable, as well as to finance the lavish lifestyles of the accused promoters. Additionally, investigations uncovered that funds received from the public were transferred to unrelated companies and trusts to obscure their origin, with the intention of cheating and defrauding innocent investors.

Earlier search operations conducted by the ED on 20th December 2020 and 20th July 2023 resulted in the recovery of various pieces of evidence, including digital evidence. Furthermore, properties worth approximately Rs. 216 Crore were attached through two provisional attachment orders issued on 20th July 2020 and 4th October 2021. Prosecution complaints, along with three Supplementary Prosecution Complaints, have been filed against 27 accused individuals before the Hon’ble Special Court (PMLA), Ghaziabad. The Hon’ble Special Court has taken cognizance of all prosecution complaints, with the latest being on 22nd September 2023.

The investigation into this matter is ongoing, with further actions expected as the ED continues its efforts to bring those responsible for this scam to justice.

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