The Enforcement Directorate has arrested an Indore-based businessman, Dilip Sisodiya, for money laundering in connection with the illegal sale of cooperative housing land worth over Rs 1,000 crore in the city. The ED initiated its investigation based on various FIRs lodged at Indore regarding the illegal sale and alienation of lands belonging to Housing Co-operative Societies by Sisodiya and other builders and developers. According to the PMLA investigation, several accused persons illegally sold and alienated huge areas of land belonging to Co-operative Societies at undervalued rates. Sisodiya, in cahoots with others, earned profits flouting the rules applicable for Housing Co-operative Societies. The ED also pointed out that Sisodiya was elected as an office bearer through manipulated elections and indirectly influenced decision-making by placing his known persons in decision-making positions. Earlier, the ED searched Sisodiya’s premises and his associates, resulting in the seizure of Rs 91.21 lakh in cash and incriminating documents. A special PMLA court granted seven days of custody of Dilip Sisodiya to the ED.
Indore Businessman Arrested by ED in Money Laundering Case Related to Illegal Sale of Housing Cooperatives
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