The Enforcement Directorate (ED) has attached assets worth over Rs 112 crore of an Uttar Pradesh-based firm and its executives in connection with an alleged Rs 3,500 crore Bike Bot scam, officials said.

The attached assets belong to Garvit Innovative Promoters Limited, its promoter Sanjay Bhati and other associates. The assets include immovable properties worth Rs 107.01 crore in the form of flats in Saga Habitat project of Zenith Township Private Limited, university, land and buildings of Arni University in Kangra of Himachal Pradesh, under construction towers in Amadeus Project of Saha Infratech Private Limited, under construction towers in White House Project of Nobel Build Tech and movable properties worth Rs 5.35 crore.

The ED initiated a money-laundering investigation in the Bike Bot scam on the basis of various FIRs registered at Dadri police station in Gautam Budh Nagar against Garvit Innovative Promoters Limited, its promoter Sanjay Bhati and others.

The accused had allegedly floated highly lucrative investment plans in the guise of a bike-taxi service by the name of Bike Bot, wherein a customer could invest in 1, 3, 5 or 7 bikes which would be maintained and operated by the company. The investor would be paid monthly rent, EMI and bonus (in case of investment in multiple bikes) and further incentives on adding additional investors in a binary structure.

The company also allegedly allotted franchisees in various cities but the bikes and taxis hardly operated in…

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