New Delhi, Aug 15 (IANS) The Directorate of Enforcement (ED) conducted search operations on August 14 at 10 residential and business premises across Punjab, Haryana, and Maharashtra in connection with a money laundering probe into the Vuenow Group of companies, including Vuenow Infratech Limited, its director Rahul Anand Bhargav, and associated entities.

The action was taken under the Prevention of Money Laundering Act (PMLA), 2002. The investigation stems from multiple FIRs lodged by the Gautam Budh Nagar (Noida) Police and Punjab Police under provisions of the Bharatiya Nyaya Sanhita (BNS), 2023.

Probes revealed that Vuenow Group’s CEO and founder, Sukhwinder Singh Kharour, in alleged collusion with other accused, orchestrated a multi-thousand crore rupee ‘Cloud Particle Scam’. The scheme, based on a purported sale-and-leaseback (SLB) model involving cloud particles, was found to be largely fictitious.

Investigators discovered that the company had negligible clients for its cloud leasing business and received no actual rental income from data centre operations. Instead, the model functioned as a money rotation scheme. Following the launch of the ED probe, Vuenow allegedly stopped paying rent to investors due to the absence of fresh investments and genuine clients.

During the latest searches, officials seized Rs 23.90 lakh in cash, electronic devices, incriminating documents, and froze shares worth Rs 63.49 crore and immovable assets valued at Rs 9.99 crore. In total, assets worth Rs 73.72 crore were seized or frozen. This is not the first enforcement action against the group.

Earlier searches on November 26, 2024, January 17, 2025, and February 24, 2025, led to the attachment of properties worth approximately Rs 178.12 crore under a provisional order dated February 6, 2025.

The ED has already arrested Sukhwinder Singh Kharour and Dimple Kharour (February 28, 2025) and Arif Nisar (February 24, 2025).

All remain in judicial custody.

A prosecution complaint against them and related entities was filed before the PMLA Special Court on April 24, 2025. Further investigation is underway.

–IANS

sas/dan