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PAG Asia: PAG's Asia Pragati Strategic Investment Fund will invest in Lavish Buildmart, a 100% subsidiary of M3M India the real estate developer whose promoters were questioned by the Enforcement Directorate last year for unauthorised transactions with the IREO group.
Construction got underway last month.
Money Laundering: The high court also made it clear that once the arrest itself is held to be illegal, all other subsequent actions would be of no consequence and would have to fail.
The apex court had allowed bail to the promoters of M3M Group on their plea that they had been called by the agency for questioning in a money laundering case related to Ireo real estate developers.
Bansal and the Parmars are in the Ambala jail in two separate cases that the enforcement directorate had registered. Bansal was arrested in the 2021 money laundering case that involved Ireo realty group managing direcotr Lalit Goyal.