ED officials said that the market price of the attached assets of ARA Properties is estimated at around Rs 100 crore. The attached property is the land, where the corporate office of ABIL and its other group companies are situated.
ED initiated a money-laundering investigation in the case on December 30, 2020, on the basis of the First Information Report (FIR) registered by Pune Police in 2016.
The ED case against Avinash Bhosale and his son pertains to the alleged construction of a commercial complex on a prime plot of land in Pune which was meant for a complex to be constructed for bureaucrats.
The investigating agency has named six people in its case that include Avinash Bhosale and his son Amit Bhosale.
Besides the father and the son, Ranjit Mohite, Ravindra, Swapnil Deshpandey and one more person are accused in the case.
“The FIR alleged that the land situated at plot no 2, Yashwant Ghadge Nagar Cooperative Housing Society, Range Hill Corner, Ganeshkhind Road, Pune, MH 411007 was transferred by Ranjit Mohite to ARA Properties in violation of Original Allotment Conditions existing at that point of time, whereby the land could have been transferred only to the Government or Commissioned Officers, being a primary condition at the time of allotment of this land by the government in 1951,” an ED statement said.
During the money-laundering investigation, the ED said, search and seizure operations were carried out at various places and incriminating documents were seized. “The documents found during the search corroborated the allegations made in the FIR.”
In June this year, the ED had also seized Avinash Bhosale’s assets worth Rs 40 crore in India in another case registered under the Foreign Exchange Management Act (FEMA) violations, for investing in Dubai after violating the rules.
Last month ED had also summoned Avinash Bhosale and his son Amit in connection with the money laundering case. The ED officials had in February this year also conducted searches at offices and residences of Avinash Bhosale in Pune and at some locations in Mumbai in connection with the case.