ED Seized Assets Worth Rs 1 Cr of Real Estate Firm in Odisha

Bhubaneswar: The Enforcement Directorate (ED) has seized over Rs 1 crore worth of assets in Odisha. ED carried out search operations at three places in Bhubaneswar and one at Berhampur against Keshari Estates Pvt Ltd and its directors.

ED searched premises including two residential buildings belonging to directors at Bhubaneswar and one office each in Bhubaneswar and Berhampur.

“During these searches, gold jewellery weighing more than 1.5 kg worth around Rs 1 crore, forming part of proceeds of crime, have been duly seized from the residential premises of a director at Bhubaneswar. Voluminous incriminating documents related to the case have also been seized during these operations,” said the ED.

“KEPL faltered on repayment and cheated the buyers to the tune of Rs 5,91,54,545 which was misappropriated by the directors,” the official added.

Further investigation is underway.