Hyderabad: In a first-of-its-kind action, Enforcement Directorate has auctioned a seized Hawker 800A aircraft for ₹3 crore in connection with the alleged ₹792 crore bogus invoice discounting scam linked to Hyderabad-based Capital Protection Force Pvt Ltd (also known as Falcon Group), its CMD Amardeep Kumar and others.The ED said the ₹3 crore sale proceeds received from the auction would be utilised to compensate genuine investors, subject to the approval of the special court under the Prevention of Money Laundering Act (PMLA).The aircraft was sold through MSTC Ltd on July 1 and purchased by Pune-based DR Services. The auction was conducted after the adjudicating authority under the PMLA granted permission for the sale.The Hawker 800A aircraft had been seized by the ED on March 7, 2025, during searches carried out at Rajiv Gandhi International Airport as part of the money laundering investigation.Following the seizure, the ED filed an original application before the adjudicating authority under the PMLA, which confirmed the seizure on Aug 18, 2025. The ED subsequently sought permission under Rule 4(2) of the Prevention of Money Laundering (taking possession of attached or frozen properties confirmed by the adjudicating authority) Rules, 2013, to auction the aircraft. The request was approved on Nov 20, 2025.The ED launched its money laundering probe based on three FIRs registered by the economic offences wing (EOW), Cyberabad, against Falcon Group, Amardeep and others.According to the ED, the company allegedly cheated a large number of investors of around ₹792 crore by promising high returns through an invoice discounting scheme.Investigators alleged that no genuine invoice discounting business was conducted and that investors were duped under the guise of such transactions.Earlier, the ED arrested Sandeep Kumar, brother of Amardeep, chartered accountant Sharad Chandra Toshniwal, and Aryan Singh Chhabra, CEO of Falcon Invoice Discounting. It also filed a prosecution complaint before the jurisdictional court on Sept 29, 2025.The agency added that further investigation into the case is ongoing.
