Kalpataru Group Distances Itself from Fraudulent Activities Amid ED Raids

Mumbai's Kalpataru Group has clarified its non-association with any Uttar Pradesh-based group's illicit activities. This comes following ED's raids in a money laundering case, which saw misuse of Kalpataru's trademark by the fraudulent group. Kalpataru is pursuing legal actions against these infringements.

Mumbai-based Kalpataru Group has issued a statement asserting its non-involvement in a money laundering investigation conducted by the Enforcement Directorate (ED). The realty and engineering contracts company emphasized that it has no ties with an Uttar Pradesh group falsely using its trademark 'Kalpataru'.

ED's recent operations led to the seizure of Rs 1.02 crore in a probe into a Ponzi scheme linked to companies falsely adopting the 'Kalpataru' name. The ED's raids targeted the properties in Agra, Mathura, and Noida related to Mithilesh Singh and associates of the late Jai Kishan Rana.

The Kalpataru Group clarified its legal standing, highlighting an existing Bombay High Court order protecting its trademark. Despite these legal safeguards, the group faces ongoing misuse of its name, prompting further legal strategies against the violators.

(With inputs from agencies.)