ED attaches immovable properties worth Rs 15.41 crore in GST fraud case

The Enforcement Directorate ED has attached 10 immovable West Bengalbased properties valued at Rs 1541 crore that belong to Amit Gupta one of the masterminds of a largescale GST fraud syndicate and his associatesEDs Ranchi Zonal Office attached these properties in Kolkata and Howrah on Monday under the provisions of the Prevention of Money Laundering Act PMLA 2002ED Ranchi has provisionally attached 10 immovable properties valued at Rs 1541 Crore in Kolkata and Howrah on 29092025 belongs to Amit Gupta one of the masterminds of a largescale GST Input Tax Credit ITC fraud syndicate and his associates under PMLA 2002 Totalhellipmdash ED dir_ed September 30 2025ED Ranchi has provisionally attached 10 immovable properties valued at Rs 1541 Crore in Kolkata and Howrah on 29092025 belongs to Amit Gupta one of the masterminds of a largescale GST Input Tax Credit ITC fraud syndicate and his associates under PMLA 2002 Totalhellipmdash ED dir_ed September 30 2025In a statement the ED said it initiated an investigation based on multiple complaints filed by the Directorate General of GST Intelligence DGGI Jamshedpur against a criminal syndicate led by Shiva Kumar Deora Amit Gupta Sumit Gupta and Amit Agarwal also known as Vicky BhalotiaED investigation revealed that the accused masterminds orchestrated a sophisticated fraud by creating and operating a network of 135 shell companies across Jharkhand West Bengal and DelhiThe syndicates modus operandi involved the issuance of bogus GST invoices without any actual supply of goods thereby fraudulently generating and passing on fake Input Tax Credit ITC valued at over Rs 734 crore the ED saidThis fraudulent ITC was then sold for a commission to various enduser entities which used the illicit credit to evade their legitimate GST liabilities causing a massive loss to the government exchequer the statement addedED said its investigation has established that the syndicate earned a commission of approximately Rs 67 crore from this criminal activity which constitutes the Proceeds of Crime POCThe agency said Gupta acting as the primary financial manager played a crucial role in laundering this illicit income by acquiring numerous immovable propertiesThe investigation also revealed a deliberate attempt by Gupta to conceal these assets by transferring them to relatives and associates after the DGGI initiated its investigation ED statedEarlier in the investigation the agency had conducted search operations on May 8 leading to the arrest of the key masterminds Shiva Kumar Deora Mohit Deora Amit Gupta and Amit Agarwal who are currently in judicial custodyThe ED has already filed a prosecution complaint against the arrested accused before a special PMLA Court in Ranchi which has taken cognisance of the offenceAdditionally a previous provisional Attachment order was issued on July 3 attaching properties worth Rs 529 crore belonging to the syndicate head Shiva Kumar DeoraThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever