New Delhi [India], July 3 (ANI): In a first of its kind, the Enforcement Directorate (ED) has auctioned an Aircraft (Hawker 800A) through MSTC Ltd for a sale consideration of Rs 3 crore.
ED’s Hyderabad zonal office auctioned the Aircraft on July 1. The aircraft was seized during a search operation conducted on March 7, 2025, by the ED’s Hyderabad zonal office and was seized from Rajeev Gandhi International Airport in a Prevention of Money Laundering Act (PMLA) case against Capital Protection Force Pvt Ltd, a Hyderabad-based company responsible for running a bogus invoice discounting scheme; its CMD Amardeep Kumar and others.
The action followed an Adjudicating Authority, PMLA, order dated November 20, 2025.
As per the agency, the sale consideration of Rs 3 crore, to be received from the purchaser, shall be utilised by the ED for restitution to the genuine investors in accordance with the provisions of the PMLA, 2002, subject to the leave of the special court under the PMLA, 2002.
ED initiated a PMLA case against Capital Protection Force Pvt Ltd, Amardeep Kumar and others on the basis of three FIRs registered by the Economic Offence Wing, Cyberabad against Falcon Group (Capital Protection Force Pvt Ltd), its CMD Amardeep Kumar and some others.
It was alleged that Amardeep Kumar, Capital Protection Force Pvt Ltd and others defrauded a large number of investors through a Ponzi scheme to the tune of Rs 792 Crore on the pretext of returning a higher amount to the investors that was received under an invoice discounting scheme, though no such actual invoice discounting business was carried out.
Earlier, the ED said three accused persons, Sandeep Kumar, brother of Amardeep Kumar; Sharad Chandra Toshniwal, Chartered Accountant; and Aryan Singh Chhabra, CEO of Falcon Invoice Discounting, were also arrested by the ED. A Prosecution Complaint was also filed by the ED before the jurisdictional court on September 29, 2025.
ED further said it is committed to ensuring the enforcement of the provisions of the PMLA, 2002, by identifying, tracing, attaching, and confiscating the Proceeds of Crime, preventing offenders from enjoying the benefits thereof, prosecuting the accused and facilitating restitution of the attached assets to the genuine victims and investors, in accordance with law. (ANI)
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