New Delhi, July 15: The Enforcement Directorate (ED) has temporarily seized assets worth approximately ₹158.37 crore in connection with the ongoing investigation into Rockland Hospitals Limited and others. This action falls under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The investigation was initiated based on a complaint filed by the Serious Fraud Investigation Office (SFIO) on January 31, 2020.
The probe focuses on large-scale financial fraud linked to the promoters of Rockland Hospitals Limited, who allegedly orchestrated a systematic diversion of funds. The ED’s findings revealed that the promoters created fake implant bills using 71 companies, resulting in a diversion of ₹76.03 crore. They also inflated the construction costs of the hospital to ₹82.34 crore through their associate company, Somya Constructions Private Limited.
Further investigations indicated that the accused employed agents and fictitious companies to conceal the sources of illicit funds and present them as legitimate. The total proceeds of crime amassed by the promoters are estimated at ₹158.37 crore. Consequently, the ED has provisionally attached properties representing the ‘value’ of the proceeds of crime under the PMLA, 2002, amounting to approximately ₹158.37 crore.
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