Jalandhar: ED attaches private firm’s properties worth ₹178.12 crore in cloud particle scam

An ED spokesperson said the firm M/s VueNow Marketing Services Ltd. (M/s VMSL), in connivance with other group entities, had lured investors into a fraudulent scheme under the guise of selling cloud particles. The company promised high rental returns through a sale and lease-back (SLB) model, despite lacking the necessary infrastructure for it.

The Enforcement Directorate’s Jalandhar zonal office has provisionally attached six immovable properties, 73 bank accounts and 26 luxury vehicles, valued at ₹178.12 crore, of a private company related to the Cloud Particle scam, under the Prevention of Money Laundering Act (PMLA), 2002.

The ED had given key persons, including VueNow Marketing Services CEO Sukhwinder Singh Kharour, opportunities to join investigation but they failed to do so. (HT File)

An ED spokesperson said the firm M/s VueNow Marketing Services Ltd. (M/s VMSL), in connivance with other group entities, had lured investors into a fraudulent scheme under the guise of selling cloud particles. The company promised high rental returns through a sale and lease-back (SLB) model, despite lacking the necessary infrastructure for it.

The proceeds of the crime were used for personal purposes, diverted through shell entities, and invested in properties and luxury vehicles.

The ED had given key persons, including CEO Sukhwinder Singh Kharour, opportunities to join investigation but they failed to do so.

“Till date, none of them, including Kharour, has joined probe and left thousands of their investors in the lurch,” the spokesperson said.

Searches were conducted at the firm’s premises on November 26 last year and January 17.

The probe had been initiated on the basis of an FIR registered under various sections of the Bharatiya Nyaya Sanhita, 2023, by Gautam Budh Nagar police, Noida, Police, Uttar Pradesh.