ED attaches ₹120 cr in assets of Appu Ghar Group in Gurugram

The Enforcement Directorate (ED) has attached immovable assets worth ₹120.98 crore belonging to International Recreation and Amusement Ltd (IRAL), a company under insolvency proceedings and part of the Appu Ghar Group, under the Prevention of Money Laundering Act (PMLA), the agency said on Thursday.

The assets of the company, which ran the Appu Ghar amusement park in Gurugram, include 25 acres of land in Gurugram’s Sector 29, and 17 acres land in Sector 52A, along with the company’s unfinished buildings.

The ED launched its probe based on multiple FIRs filed by Gurugram Police against IRAL and its promoters—Rakesh Babbar, Gyan Vijeshwar, Robin Vijeshwar—and associated entities for cheating and criminal conspiracy.

The company had collected over ₹400 crore from approximately 1,500 investors by promising allocation of retail shops and virtual spaces in the sectors 29 and 52A. “However, the said entity failed to deliver the project and missed deadlines. Also, monthly assured return payments to the investors were not paid,” ED said in its statement.

According to the ED, the promoters siphoned off funds, diverting them to associates and entities for personal gain.

This latest attachment, issued on November 24, brings the total value of attached assets in the case to ₹412.29 crore. Earlier, assets worth ₹291.31 crore were attached on May 28.

“The attachment has been issued to secure the assets of the corporate debtor, IRAL, after the PMLA investigation revealed that the Disciplinary Committee of IBBI had suspended the Resolution Professional on serious allegations. The PMLA investigations revealed that no resolution plan has been taken place even after 6 years of initiation of CIRP proceedings adversely affecting the interest of the investors,” the statement said.