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 inquiry focuses on large-scale financial fraud linked to the promoters of Rockland Hospitals Limited, who allegedly orchestrated a systematic embezzlement of funds. The ED’s investigation 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 findings indicated that the accused employed agents and shell companies to conceal the sources of illicit funds and present them as legitimate. The total proceeds of crime amassed by the promoters through these methods are estimated at ₹158.37 crore. Consequently, the ED has provisionally attached properties representing the ‘value’ of the crime proceeds, amounting to approximately ₹158.37 crore under the PMLA, 2002.
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