Directorate of Enforcement (ED), Lucknow Zonal Office has provisionally attached an immovable property
worth Rs.27.01 Crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in the
case of Bhasin Infotech and Infrastructure Pvt. Ltd. (BIIPL) and its Director Satinder Singh Bhasin. The attached
property is a residential independent house located at D-24, Rajouri Garden, West Delhi, held in the name of
Satinder Singh Bhasin, the main accused in the case. The fair market value of the said property, as assessed on
09.06.2015 (date of FIR), is Rs.27.01 Crore. The present value of the property is 44.06 Crore.
ED initiated investigation on the basis of multiple FIRs registered by Uttar Pradesh Police (Noida) against
Bhasin Infotech and Infrastructure Pvt. Ltd., Grand Venice Group entities, Satinder Singh Bhasin, Quincy
Bhasin and others for offences under various sections of IPC, 1860 including cheating, fraud and criminal
conspiracy. It was alleged that the accused persons collected hundreds of crores of rupees from investors in real
estate projects by promising timely delivery of commercial units, which were never completed or handed over.
ED investigation revealed that funds collected from the public were diverted and dissipated through a web of
group companies and associate entities, instead of being used for the construction and development of promised
projects. These companies were controlled by Satinder Singh Bhasin, Harpreet Singh Chhabra, Ajay Dhawan.
The investigation established that the Proceeds of Crime (POC) were layered and parked across multiple entities
with no direct asset traceability. Accordingly, the residential property held by Satinder Singh Bhasin has now
been provisionally attached under Section 5(1) of the PMLA, 2002.
ED had previously conducted searches at 09 locations across Delhi, Noida and Goa on 10.04.2025 under the
provisions of PMLA at the premises of M/s Bhasin Infotech and Infrastructure Pvt Ltd., M/s Grand Venezia
Commercial Towers Pvt Ltd and their key personnels resulting in discovery and seizure of various incriminating
information, documents, electronic devices. Further a cash of Rs.36 Lakh were seized, and various suspected
bank accounts were frozen
