ED started investigation based on 3 FIRs, registered by Economic Offence Wing, Cyberabad against Falcon Group, its CMD Amardeep Kumar and others for defrauding investors in a bogus invoice discounting scheme
FinTech BizNews Service
Mumbai, 3 December 2025: Directorate of Enforcement (ED), Hyderabad Zonal Office has put a seized aircraft (Hawker 800A; registration no. N935H) for auction through MSTC Limited. The seized aircraft is currently parked at Begumpet Airport, Hyderabad and is available for inspection till 07.12.2025, as per a press release issued by the ED today. The auction through MSTC is scheduled to happen on 09.12.2025 (link for participating in the auction is “MSTC/HYD/Directorate of Enforcement/3/Hyderabad/25-26/45608”). The proceeds from the sale of the aircraft shall be eventually used for the purpose of restitution to the victims of the scam.
The aircraft was seized by ED from Rajeev Gandhi International Airport during search operation on 07.03.2025 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in a case against Amardeep Kumar, Capital Protection Force Pvt. Ltd. and others. ED started investigation based on FIR Nos. 10/2025, 11/2025 and 12/2025 all dated 11.02.2025 registered by Economic Offence Wing, Cyberabad against Falcon Group (Capital Protection Force Pvt. Ltd.), its CMD Amardeep Kumar and others for defrauding investors in a bogus invoice discounting scheme. ED investigation revealed that Amardeep Kumar launched an invoice discounting scheme under the name and style of ‘Falcon Invoice Discounting’ and duped gullible investors of Rs. 792 Crore of their hard-earned money. During investigation, it was revealed that Amardeep Kumar fled the country in the same aircraft prior to registration of FIRs and is presently absconding abroad.
During investigation, ED has provisionally attached properties worth Rs. 18.63 Crore in the case and also arrested three accused persons namely Sandeep Kumar, brother of Amardeep Kumar; Sharad Chandra Toshniwal, Chartered Accountant and Aryan Singh Chhabra, COO of Capital Protection Force Pvt. Ltd. Prosecution Complaint has also been filed by ED before the Special PMLA Court, Rangareddy on 29.09.2025.
ED investigation revealed that the impugned aircraft was purchased by Amardeep Kumar in 2024 for a consideration of USD 1.6 million. Subsequent to the seizure of the aircraft, ED filed Original Application before the Ld. Adjudicating Authority, PMLA and the same was confirmed vide order dated 18.08.2025. Thereafter, ED moved an application before the Ld. Adjudicating Authority 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 allow ED to sell the seized aircraft. The said Rule provides for sale of a confirmed attached property if it is subject to speedy and natural decay or if its maintenance costs are likely to exceed its value. The Adjudicating Authority, PMLA vide order dated 20.11.2025, was pleased to allow ED, Hyderabad Zonal Office to auction the seized aircraft. Further investigation in the case is under progress.
