ED Attaches ₹4.06 Crore Assets in Bengaluru TDR Scam Involving Valmark Realty, BBMP Officials, and Brokers; Illegal Gains Touched ₹27.68 Crore
Bengaluru: In connection with the Transferable Development Rights (TDR) scam, officials from the Enforcement Directorate (ED) executed raids at nine locations linked to Valmark Realty Holdings Company.
On Friday, the ED focused its efforts on both the office and residence of the directors of Valmark Realty Holdings Pvt. Ltd., located on Richmond Road. During these operations, officials reportedly seized a substantial quantity of documents.
Valmark Realty Holdings Pvt. Ltd. is facing serious allegations of unlawfully selling TDR. It is claimed that the company’s owner, Ratan Lath, illegally sold TDR valued at Rs 27 crore after obtaining Development Control Regulations (DCR). The Anti-Corruption Bureau (ACB) had previously registered a case, conducted an investigation, and submitted a chargesheet to the court. The recent ED raids are a continuation of the ongoing investigation into this significant matter.
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