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ED Raid: The Enforcement Directorate (ED) has taken a major action. ED, Lucknow Zonal Office has confiscated three immovable properties of a listed company located in Ahmedabad and Kannauj worth Rs 6.17 crore. The case is of Prevention of Money Laundering Act (PMLA), 2002. ED also issued a statement on this. However, after this the company said that it has no connection with the fraud group misusing its name. Let us tell you here that just 6 days ago, the company had received orders worth Rs 2,366 crore in the domestic and international market.
ED Raid Big Statement
ED shared this information by sharing a post on its official 'X' handle. It was written that ED, Lucknow Zonal Office has attached 3 immovable properties worth Rs 6.17 crore in the form of land on 27 March 2025 under the provisions of PMLA, 2002, which are in the name of Kalpataru Group companies and entities associated with the group in Ahmedabad (Gujarat) and Kannauj (UP). Also read: ED Raid: ED kept counting cash for 8 hours with 4 machines, so much cash was found from the bungalow that everyone was shocked, there was a stir! The company clearly said - our name has been misused However, 'Kalpataru Group' has issued a statement denying any involvement with the fraudulent group, which is misusing its name. Kalpataru Limited also informed that it is in the process of taking further legal action against the group for misusing its trademark and condemned the actions of the fraudsters, saying that it is not only a violation of law but also an attempt to damage the established reputation of the company. An official spokesperson of Kalpataru Group said in his statement that we categorically deny any association with the fraudulent group misusing the name Kalpataru. The name Kalpataru is an exclusively registered trademark and tradename owned by us. An official spokesperson of Kalpataru Group said in his statement that despite the legal and prohibitory injunction order (date of final order 3 May 2016) obtained by PMLA from the Hon'ble Bombay High Court in the year 2015 on behalf of one of our group companies, they are illegally misusing and infringing our trademark to create confusion and take advantage of the reputation of our group. The misuse of its registered and famous trade name or logo is not only in violation of the order of the Hon'ble Bombay High Court but is also misleading and mischievous. Kalpataru Group is in the process of taking necessary legal measures against them.
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