IREO’s Lalit Goyal detained by Enforcement Directorate

By: |
November 12, 2021 11:03 AM

Goyal was stopped by immigration authorities on Thursday at the Indira Gandhi International (IGI) airport here on the basis of an ED look out circular.

enforcement directorateOfficials said Goyal was questioned at the airport and detained under the provisions of the Prevention of Money Laundering Act (PMLA) by the investigators of their Chandigarh office.

The Enforcement Directorate (ED) has detained the vice chairman and managing director of real estate group IREO in connection with a money laundering probe against him, officials said on Friday.

Goyal was stopped by immigration authorities on Thursday at the Indira Gandhi International (IGI) airport here on the basis of an ED look out circular. He was supposed to take a flight to the US when his name was flagged, they said.

Officials said Goyal was questioned at the airport and detained under the provisions of the Prevention of Money Laundering Act (PMLA) by the investigators of their Chandigarh office.

The businessman is being probed in relation with a money laundering case linked to alleged diversion of estimated USD 77 million (one million is equal to 10 lakhs) of home buyers’ funds, investments and shareholdings to some offshore entities. His name also figured in the ‘Pandora Papers’ global leak of offshore funds.

Goyal and his legal team had earlier denied any illegalities on their part and have said no funds were diverted abroad in violation of laws.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1‘Grossly unjust’: Congress leader Anand Sharma says opposition being painted wrongly
2Punjab CM Charanjit Singh Channi writes to PM Modi, urges him to waive farmers’ debts
3Meghalaya: Congress petitions Speaker to disqualify 12 MLAs who crossed over to TMC