New Delhi:
In a first-of-its-kind move, the Directorate of Enforcement (ED) has auctioned a seized Hawker 800A jet plane for Rs 3 crore as part of a money laundering investigation linked to an alleged Rs 792-crore Ponzi scheme.
The aircraft was auctioned by the ED’s Hyderabad Zonal Office through the MSTC platform on July 1, 2026.
The agency said the aircraft had been seized during a search operation at Rajiv Gandhi International Airport on March 7, 2025, in connection with a case against Amardeep Kumar, Capital Protection Force Pvt Ltd and others under the Prevention of Money Laundering Act (PMLA).
The ED said the seizure was confirmed by the Adjudicating Authority under the PMLA in August 2025. Subsequently, the agency obtained permission from the authority in November 2025 to sell the aircraft under the Prevention of Money Laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013.
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The money laundering case stems from three cases registered by the Economic Offences Wing, Cyberabad, against Hyderabad-based Capital Protection Force Pvt Ltd, also known as Falcon Group, its CMD Amardeep Kumar and others.
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According to the ED, the accused allegedly duped investors of nearly Rs 792 crore through a bogus invoice discounting scheme, promising high returns despite carrying out no genuine invoice discounting business.
The agency had arrested Sandeep Kumar, brother of Amardeep Kumar, Chartered Accountant Sharad Chandra Toshniwal, and Aryan Singh Chhabra, CEO of Falcon Invoice Discounting. A prosecution complaint was filed before the designated court in September 2025.
The ED said the Rs 3 crore realised from the auction will be used for restitution to genuine investors, subject to permission from the Special PMLA Court.
The agency added that the investigation is continuing.
