Enforcement Directorate Agrees that Avighna Developers Were Not Into Money Laundering

In November 2016, a group of so-called activists had accused Avighna Developers for money laundering. While all they had were unfounded claims, these were refuted at last in 2019 by the Enforcement Directorate (ED). The ED had launched a preliminary inquiry into the baseless allegations and found the Avighna Group non-guilty. Since then, ED stated that it would hold no further proceedings and gave a clean chit to the Mumbai’s one of the most prestigious and successful developers.

Back in 2016, the media had covered this malicious allegation to a great extent. Because the allegers had roped in BJP MP, Kirit Somaiya, the issue intensified, causing collateral damage to the reputation of the Avighna Developers. The blackmailers had alleged that the former Chief Minister of Maharashtra ploughed funds into a luxury housing project through offline route. The project was by the Avighna Group in Parel and one of the most sought after.

Preliminary Inquiry Proves that Avighna Group Were Right from the Start

The Enforcement Director has now provided a complete closure to the Avighna management in the fake money laundering case. It freed the developer from the groundless accusations. The smear campaign was purely motivated by elements that intended to damage the developer’s reputation. But, the investigation conducted by ED ascertains that there is no substance or any iota of truth in the allegations.

Mr. Kirit Somaiya on being enquired said that it was his job to bring the issue to the notice of judiciary. As he is people’s representative, informing the investigating officials was part of his responsibility, and he has since then not followed up on the case. Avighna Developers had taken the right step in 2016 by approaching the ED officials after being maligned by the allegations.

Enforcement Directorate Will Hold No Proceedings Henceforth Against Avighna Developers

The group proved its transparency and innocence by submitting all required documents and proof, which revealed that there was neither involvement of the former CM nor any other politician in offering even a single rupee for the project. Their record and book proved that there was no investment by any politician.

The Enforcement Directorate studied the submissions and took a call to cease any investigation. It brought a logical closure to the entire matter. Mr. Kailash Agarwal, the Chairman of Avighna Group added that he and the group were at the receiving end since a long time because of the treacherous campaign by the blackmailers who wanted to extract money from them.

It was the blackmailers who had been trying to harm the repute of Avighna Group by misusing the legal machinery. The harassment caused a negative impact on the developers’ image, but justice was served at last by the ED, who granted a clean chit after the developers took the right legal approach to counter the bogus accusations.