New Delhi, Sept 30 (UNI) The Enforcement Directorate (ED) today announced the attachment of immovable properties worth Rs. 15.41 crore in a GST fraud case.
The action was initiated by its Ranchi Zonal Office. The ten immovable properties attached by the ED are located in Kolkata and Howrah.
The assets belong to Amit Gupta, one of the masterminds of a large-scale GST fraud syndicate, and his associates.
The ED launched its investigation based on multiple complaints filed by the Directorate General of GST Intelligence (DGGI) in Jamshedpur against a criminal syndicate led by Shiva Kumar Deora, Amit Gupta, Sumit Gupta, and Amit Agarwal, also known as Vicky Bhalotia.
The investigation revealed that the accused masterminds orchestrated a sophisticated fraud by creating and operating a network of 135 shell companies across Jharkhand, West Bengal, and Delhi.
The syndicate’s modus operandi involved issuing bogus GST invoices without any actual supply of goods. This allowed them to fraudulently generate and pass on fake Input Tax Credit (ITC) valued at over Rs. 734 crore.
The fraudulent ITC was then sold for a commission to various end-user entities, which used the illicit credit to evade their legitimate GST liabilities, causing a massive loss to the government exchequer.
The investigation established that the syndicate earned a commission of approximately Rs. 67 crore from this criminal activity, which constitutes the Proceeds of Crime (POC).
Amit Gupta, acting as the primary financial manager, played a crucial role in laundering this illicit income by acquiring numerous immovable properties.
The investigation also revealed that Amit Gupta deliberately attempted to conceal these assets by transferring them to relatives and associates after the DGGI initiated its probe.
Earlier, on May 8, 2025, the ED conducted search operations leading to the arrest of key masterminds Shiva Kumar Deora, Mohit Deora, Amit Gupta, and Amit Agarwal alias Vicky Bhalotia.
They are currently in judicial custody. The ED has already filed a Prosecution Complaint against the accused before the Special PMLA Court in Ranchi, which has taken cognizance of the offence.
Recently, the ED attached properties worth Rs. 5.29 crore belonging to the syndicate head, Shiva Kumar Deora. The latest attachment of properties worth Rs. 15.41 crore is a continuation of ongoing efforts to trace and attach the Proceeds of Crime.
Further investigation is ongoing.
