Indiabulls promoter Sameer Gehlaut is another case of an absconder holing up in London to escape from the clutches of the Law
The Enforcement Directorate (ED) on Monday conducted a raid at the controversial housing finance company Indiabulls’ offices in Mumbai and Delhi. The ED had registered a case against Indiabulls Housing Finance and its promoters in April 2021 and the company’s promoter Sameer Gehlaut had already buzzed off to London in early 2020.
The raids were conducted as part of the Enforcement Case Information Report (ECIR) registered by ED under the Prevention of Money Laundering Act, 2002 (PMLA) against Indiabulls Housing Finance promoter Sameer Gehlaut and some other related companies and individuals. The money siphoning of Indiabulls was first exposed by BJP leader Subramanian Swamy complaining to the Prime Minister and all agencies. In his detailed complaint, Swamy accused that Indiabulls having the patronage of many corrupt politicians like P Chidambaram and many senior Congress leaders have already siphoned more than Rs.1 lakh crore by taking loans from National Housing Bank.[1]
Later noted lawyer Prashant Bhushan also approached Delhi High Court seeking a probe on huge siphoning of money by Indiabulls from National Housing Bank owned by Reserve Bank of India (RBI) in the name of several real estate projects.[2]
Meanwhile, Indiabulls approached Delhi High Court seeking a direction to ED not to take any coercive actions. Indiabulls Sameer Gehlaut who already landed in London in early 2020 has not yet landed before the ED sleuths, even after the repeated summon notices.
Reference:
[1] Subramanian Swamy charges Indiabulls of laundering more than Rs. 1 Lakh Crores. Demands probe by SIT and Special Audit – Jul 28, 2019, PGurus.com
[2] Delhi HC issues notice to Centre, RBI, SEBI and other agencies on the PIL against Indiabulls for huge money laundering – Sep 27, 2019, PGurus.com
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