ED likely to attach more property soon

Lucknow: The enforcement directorate (ED) team probing the ‘Bike Bot’ scam is soon likely to attach properties worth Rs 100 crore of movable and immovable assets
Earlier, the Lucknow Zonal Office of ED had on July 20 attached 26 immovable properties worth over Rs 101 crore and bank balances totalling over Rs 2 crore in 22 accounts of owners and partners of Garvit Innovators Promoters Limited (GIPL).
ED sources on Wednesday said that more assets have been traced which would be attached soon. The value of those assets was being analysed, officials said. ED has also identified immovable properties situated in Gautam Budh Nagar, Ghaziabad, Bulandshahr, Kanpur and Indore, in the name of Garvit Innovative Promoters Ltd.
ED is also coordinating with the EOW, UP Police in the matter, said an ED officer.
Sanjay Bhati, owner of Garvit Innovators Promoters Limited (GIPL), had conned several persons after floating a “multi-level marketing scheme” called ‘Bike Bot’, which promised to double people’s investment. The plans were floated by Garvit in August 2017 and the collection of money from investors, customers and repayments to them continued till early 2019.
Promoters had opened multiple offices. The first FIR against GIPL was in 2019.