Dikhyaa Mohanty 
On Thursday of last week, the Directorate of Enforcement (ED), Bhubaneswar, conducted search operations at multiple sites in Odisha concerning the M/s Artha Tatwa (AT) Group of Companies. According to an official press release from the ED, the agency launched an investigation into the M/s Artha Tatwa (AT) Group of Companies based on FIRs filed by the CBI under various Sections of the IPC, 1860.
The Artha Tatwa (AT) Group of Companies engaged in fraudulent deposit collecting from the general public without the required authorization from regulatory authorities, according to the ED investigation. Because there was no profitable venture that might produce a surplus to repay the investors, AT Group established several other real estate firms and other similar related corporations to operate a traditional “Ponzi investment scam.” Up to now, five separate provisional attachment orders have been used to seize proceeds of crime totalling Rs 135 crore, and three prosecution complaints have been filed on behalf of fifteen distinct accused individuals or corporations.
A total of Rs 23 lakh in cash, an Audi Q3 automobile estimated to be worth Rs 35 lakh, and jewellery valued at Rs 24.15 lakh were found during the search operations. Additionally, the examined facilities yielded a number of incriminating documents, including digital gadgets, sale deed agreements, and undated checks.
