The Enforcement Directorate's Special Task Force has attached movable and immovable properties worth Rs 394.42 crore in connection with the multi-crore Bikebot scam, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The attached assets include properties held in the name of Kamakhya Educational and Social Welfare Trust, Kamakhya Educational Society, Guru Nanak Charitable Trust, Alpine Technical Education Society, AP Goyal Charitable Trust, and Smt Meena Anand. These consist of immovable properties in Meerut, released mortgaged land valued at over Rs 389.30 crore, and fixed deposits worth Rs 5.12 crore.
The investigation revealed that funds collected from investors in the guise of a Bike Taxi service "Bikebot", floated by GIPL promoter Sanjay Bhati and others, were siphoned off. Investors were lured into investing in multiple bikes with the promise of fixed monthly returns, bonuses, and incentives under a multi-level marketing (MLM) scheme. However, the bike taxi operations hardly functioned in the claimed cities.
The probe agency found that the diverted funds were routed through related companies, educational trusts, societies, and individuals. These were later used to purchase properties and release mortgaged assets.
So far, the Enforcement Directorate has attached properties worth over Rs 615 crore in the case, including earlier attachments of Rs 220.78 crore made through three provisional attachment orders in 2020, 2021, and 2024. Prosecution complaints and three supplementary complaints have already been filed against 27 accused before the Special PMLA Court in Ghaziabad, which has taken cognisance.
The probe agency had earlier conducted search operations in 2020 and 2023, seizing digital and other evidence.
