Rajul Group routed ₹8.2 crore abroad:Portugal flat, ₹2 crore in account; ED raids in money laundering probe

The Enforcement Directorate (ED) on Thursday carried out searches at multiple premises linked to the Rajul Group in Jabalpur, unearthing suspected irregularities in foreign investments and money laundering. Officials said ₹31 lakh in cash was recovered during the raids conducted by the Bhopal unit of the agency. Raids at three locations, foreign transactions under lens According to the ED, searches were conducted at three locations associated with the Rajul Group and its partners. The कार्रवाई is part of an ongoing probe into alleged незакон foreign remittances and unaccounted money. Preliminary findings indicate that over ₹8.20 crore was secretly sent abroad by the company. Portugal flat, undisclosed rental income traced Investigators found that one of the accused, Priyank Mehta, had purchased a flat in Lisbon worth approximately €5.10 lakh (around ₹4.6 crore). The property was reportedly generating rental income, which was not disclosed in tax returns. In addition, around €4.20 lakh (approximately ₹3.65 crore) was transferred to Portugal. Foreign bank deposits, LRS route flagged Documents seized during the raids revealed that nearly ₹2.1 crore remains deposited in a bank account in Lisbon. The ED also flagged remittances of about $5.48 lakh sent abroad under the Liberalised Remittance Scheme (LRS), suspecting misuse. Company background Rajul Builders, established in 1982, is a real estate firm based in Jabalpur. The agency is now examining financial records and seized documents for further evidence of alleged violations. The investigation is ongoing, with officials indicating that more disclosures are likely in the coming days.