ED transfers ₹52.31 crore assets to scam victims

The Enforcement Directorate (ED) has transferred assets worth ₹52.31 crore to the Competent Authority under the Maharashtra Protection of Interests of Depositors Act. These assets were linked to Aryarup Tourism and Club Resort Pvt Ltd, accused of defrauding investors. Previously, the ED had attached properties valued at ₹29.20 crore in 2013 and 2014. Following a court order in 2021, these assets were confiscated by the Central Government. The recent transfer aims to provide compensation to defrauded investors. The ED supported the Competent Authority's request to modify the 2021 order for asset transfer. The special court in Mumbai approved this transfer, recognizing the need to protect the interests of depositors.