They include flats in Kangra and under-construction towers in real estate projects

The Enforcement Directorate has attached assets worth ₹112.36 crore of Garvit Innovative Promoters Limited and others in connection with the “Bike Bot” scam in which a large number of investors in a bike taxi service were cheated.

The assets include flats in Himachal Pradesh’s Kangra and under-construction towers in real estate projects.

In July, the agency had attached properties worth ₹103.73 crore, involving 26 immovable properties and 22 bank accounts in the name of Garvit Innovative Promoters, Independent TV, Mars Enviorotech, Axle Energy, Pantel Mobility Health and other associate entities. That order has been confirmed by the Adjudicating Authority under the Prevention of Money Laundering Act.

The ED probe is based on the FIRs registered by the Uttar Pradesh police against Garvit Innovative Promoters, its promoter Sanjay Bhati and others.

Investment plans

The accused persons had floated investment plans in the guise of the bike taxi service, wherein the clients could invest in one to seven bikes, for which they were promised monthly rent and bonus in case of multiple investments, apart from other incentives.

The company had also allotted franchisees in various cities, but the bike taxi had hardly operated there. The plans were floated in August 2017 and the collection of money from investors and repayments to them continued till early 2019.

In November 2018, the company…

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