ED attaches assets worth Rs 36 lakh of company under the anti-money laundering law

08/02/2019

The Enforcement Directorate has attached assets worth Rs 36 lakh of the company involved in the renovation of two stadiums during the 2010 CWG event under the anti-money laundering law. The firm had taken up a contract for the upgradation and renovation of Shivaji Stadium and Talkatora Stadium.

On Friday, the Enforcement Directorate revealed that it has attached assets worth Rs 36 lakh of a company which was involved in the renovation of two stadiums during the 2010 CWG held in Delhievent under the anti-money laundering law.

The Indian agency also issued a provisional order under the Prevention of Money Laundering Act (PMLA) for the attachment of a flat located in East of Kailash locality of Delhi which is valued at Rs 36.6 lakh of Raja Aederi Consultants Pvt Ltd.

"The company submitted false documents to NDMC (New Delhi Municipal Council) in order to obtain four contracts pertaining to upgradation and renovation of Shivaji Stadium and Talkatora Stadium for a work of value of Rs 1 crore (Rs 50 lakh each for both the stadiums).

"Even though the company did not have the requisite experience, it was awarded the work of Rs 4.25 crore for consultancy of a five-storey building with two basement at both the stadium without going for re-tendering. In this manner the contracts for work amounting to Rs 5.25 crore were wrongly awarded to Ms Raja Aederi Consultants Pvt. Ltd," the agency said as per TOI sources.

As per reports, the firm in question had taken up a consultancy contract for the upgradation and renovation of Shivaji Stadium and Talkatora Stadium.