ED attaches property worth Rs 2.38 crore

The Directorate of Enforcement (ED) provisionally attached 28 immovable properties worth Rs 2.38 crore under the Prevention of Money Laundering Act (PMLA), 2002. These properties were registered in the name of associate companies of M/s Hello Ride Ltd in Mohanlalganj, Lucknow. The ED initiated an investigation based on FIRs filed by UP Police against M/s Hello Ride Limited and its directors. The investigation revealed that the directors launched a Bike taxi Scheme called ‘Hello Ride’ and collected deposits of Rs 72 crore from the public without fulfilling their promise of monthly returns.