Former Noida Authority CEO Karan Bhalla Under ED Scanner in ₹426 Crore Money Laundering Case
Retired IAS officer Karan Bhalla, who served as CEO of the Noida Authority for five years, is under serious scrutiny for his alleged involvement in multiple real estate scams, including the high-profile Noida land fraud. His troubles have intensified as the Enforcement Directorate (ED) has summoned him once again on October 5 in connection with the Lotus 300 project money laundering case.
Bhalla, a resident of Chandigarh, had earlier ignored the ED’s summons issued for September 25, failing to appear before officials at the agency’s Lucknow office. The case involves fraudulent activities by Hacienda Projects Private Limited (HPPL), its promoters, directors, and associated entities—accused of cheating homebuyers out of ₹426 crore through the Lotus 300 housing project.
His failure to respond or communicate with the agency prompted the ED to issue a fresh notice. If he does not appear on the new date, the ED may move to confiscate his passport.
Bhalla's close links with another former Noida Authority CEO, Singh—who is also under investigation—have further intensified the spotlight on his role in the case.
Earlier, on September 17 and 18, the ED carried out searches at properties linked to Bhalla in Delhi, Noida, Meerut, Chandigarh, and Goa. Following the raids, the agency seized assets including cash, gold, and diamond jewellery worth over ₹42 crore.
The ED alleges that Bhalla and his associates siphoned off massive amounts from homebuyers through deceptive practices under the guise of the Lotus 300 project, leaving hundreds of buyers in financial distress.
The case continues to unfold as the ED deepens its investigation into one of the biggest real estate scams linked to former top bureaucrats in Noida.
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