India

Enforcement Directorate Attaches Properties Worth 5.35 Cr in Bike Taxi Scheme Scam

Enforcement Directorate has attached the properties of Hello Ride Limited, its director, presidents, agents and other worth 5.35 Crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The attached properties include one movable and 20 immovable properties.

properties were in districts of Prayagraj, Kanpur, and Lucknow and consisted of residential plots and agricultural holdings.

Several FIRs filed by the Uttar Pradesh Police in the Vibhuti Kand police station in Lucknow under IPC sections 406 for criminal breach of trust, 409 for criminal breach of trust by public servant, and 420 for cheating against Abhay Kumar Kushwaha, Neelam Verma, Nikhil Kushwaha, Rajesh Pandey, Shaqeel Ahmad, Ragini Gupta, and others served as the basis for the Enforcement Directorate’s investigation

According to the officials, the inquiry showed that Abhay Kushwaha and his friends committed crimes that violated the PMLA, 2002, in order to create proceeds of crime.

Similar to services offered by aggregators like Ola and Uber, the company introduced a bike taxi plan called Hello Ride. For an initial investment of Rs 61,000 each bike, the company pledged to pay Rs 9,585 per month for a period of 12 months.

Hello Ride and its directors and representatives obtained huge deposits from general public. They obtained deposits under the enticement of such a great return on investment. The total alleged amount in 33 FIRs is Rs 10,93,71,000.

They used undue money made between 2018 and 2019 to buy these real estate properties. The homes were bought at a documented undervalue. However, the officials claimed there was also a significant financial component to the deals.

Previously, 28 immovable properties worth Rs 2.38 crores were provisionally attached and later confirmed by the Adjudicating Authority. The total attachment in this case now stands at Rs 7.73 crores. Further investigation is under progress.

Shibra Arshad

Recent Posts

Maha Kumbh 2025: Yogi Government’s Strategic Coordination Ensures Timely Preparations

For Maha Kumbh 2025, preparations are in full swing as authorities work to ensure all…

9 hours ago

In Special Gesture, Kuwait’s Prime Minister Sees-Off PM Modi At Airport After Conclusion Of Historic Visit

Prime Minister Narendra Modi wrapped up his two-day visit to Kuwait on Sunday evening. In…

10 hours ago

Maha Kumbh 2025: Shri Panchdashnam Aawahan Akhara Makes Grand Entry Into Maha Kumbh City

Maha Kumbh 2025 with preparations for the Maha Sammelan are in full swing as 13…

11 hours ago

India’s Unifying Initiative: MRM Declares Bhagwat’s Message As The Foundation Of National Unity

The MRM strongly endorsed Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat’s statement on temple-mosque disputes.…

11 hours ago

Maha Kumbh-2025: Prayagraj Mela Authority Deploys Advanced Sanitation Technology

For Maha Kumbh-2025, the Prayagraj Mela Authority has made extensive preparations to provide a clean…

12 hours ago

PM Narendra Modi To Attend Christmas Celebrations At CBCI In New Delhi

Prime Minister Narendra Modi is all set to attend the Christmas celebrations at CBCI Centre…

13 hours ago