Overview
- The Special PMLA Court in Gurugram remanded Amit Katyal, promoter of Angle Infrastructure, to six days of ED custody after his Nov 17 arrest.
- The case, taken over under the PMLA from FIRs by Gurugram Police and Delhi’s EOW, concerns alleged cheating of homebuyers in the Sector 70 project.
- The ED alleges Katyal fraudulently obtained a licence from another developer and collected funds before DTCP Haryana approval, generating about ₹300 crore in proceeds.
- The probe cites alleged abuse of insolvency, including alienation of 2 acres valued at ₹130 crore at undervalued rates and diversion of bank loans causing an estimated ₹80 crore loss to a public sector lender.
- Katyal was earlier arrested in 2023 in a separate land-for-jobs probe and was chargesheeted in August in another homebuyer case, as investigators examine links to other projects such as Krrish World and Province Estate.