Enforcement Directorate has provisionally attached immovable and movable properties worth over 394 crore rupees in the Bikebot Scam Case under the provisions of the Prevention of Money Laundering Act.
The properties were held in the name of Kamakhya Educational and Social Welfare Trust, Kamakhya Educational Society, Alpine Technical Education Society and AP Goyal Charitable Trust.
The agency said that Garvit Innovative Promoters Limited and its promoter Sanjay Bhati, along with others, had floated highly lucrative investment plans in the guise of a BIKE TAXI service by the name of BIKEBOT.
ED investigation revealed that funds mobilized in the Bikebot scam were diverted to various related companies and subsequently layered through educational trusts, societies, and individuals. These diverted funds were utilized to purchase immovable properties in Meerut and release previously mortgaged properties from banks.
