The Directorate of Enforcement (ED), Hyderabad Zonal Office, auctioned an aircraft (Hawker 800A) through MSTC Limited on July 1 for a sale consideration of Rs 3 crore.
The Aircraft (Hawker 800A) was seized during a search operation conducted March 7, 2025 by the ED, Hyderabad Zonal Office and was seized from Rajeev Gandhi International Airport in a PMLA case against Amardeep Kumar, Capital Protection Force Pvt. Ltd. and others.
Subsequent to the seizure of the aircraft, ED had filed an original application before the Adjudicating Authority, PMLA and the same was confirmed through an order dated August 18, 2025.
The ED moved an application before the learned Adjudicating Authority under Rule 4(2) of the Prevention of Money Laundering (Taking possession of attached or frozen properties confirmed by the Adjudicating Authority) Rules, 2013, seeking permission to sell the seized aircraft.
The Adjudicating Authority, PMLA, through an order dated November 20, 2025, had allowed the ED, Hyderabad Zonal Office to auction the seized aircraft.
ED had initiated a PMLA case against M/s Capital Protection Force Pvt. Ltd. (a Hyderabad based company responsible for running a bogus invoice discounting scheme), Amardeep Kumar and others on the basis of three FIRs registered by Economic Offence Wing, Cyberabad against Falcon Group (Capital Protection Force Pvt. Ltd.), its CMD Amardeep Kumar and some others.
It was alleged that Amardeep Kumar, Capital Protection Force Pvt. Ltd. and others defrauded a large number of investors through a Ponzi scheme to the tune of approximately Rs 792 crore on the pretext of returning a higher amount to the investors that was received under an invoice discounting scheme, though no such actual invoice discounting business was carried out.
Earlier, three accused persons Sandeep Kumar, brother of Amardeep Kumar, Sharad Chandra Toshniwal, Chartered Accountant and Aryan Singh Chhabra, CEO of Falcon Invoice Discounting were also arrested by ED.
A chargesheet was also filed by the ED before the jurisdictional court on September 29, 2025.
The sale consideration of Rs 3 crore, to be received from the purchaser, will be used by the ED for restitution to the genuine investors in accordance with the provisions of the PMLA, 2002, subject to the permission of the special PMLA court.
