According to sources, this action, taken on February 20 under the Prevention of Money Laundering Act (PMLA), 2002, targets assets linked to the Maa Saraswati Educational Trust and its trustees.
The attached properties encompass three land parcels totaling 125 bighas in Nahan, Sirmaur district, Himachal Pradesh, registered under the Maa Saraswati Educational Trust.
Also two flats located in Panchkula, Haryana, registered in the names of trustees Preeti Bansal and Richa Bansal, have been seized.
Notably, the seized land includes the premises of the Himalayan Group of Professional Institutions in Kala Amb, operated by the trust.
The ED's investigation, initiated from an FIR by the Central Bureau of Investigation (CBI) in Shimla, uncovered that these institutions fraudulently obtained scholarship funds.
They did so by verifying details of non-existent students or those who had discontinued their studies.
Further manipulations involved uploading false student information on the HP-ePass portal, altering caste categories, misrepresenting day scholars as hostel residents, and inflating fee structures for distance education courses.
ED had seized ₹80 lakh in cash, freezing of ₹2.80 crore in various bank accounts, and the provisional attachment of movable and immovable assets worth ₹10.67 crore.
To date, six individuals have been arrested in connection with this scam.
The ED's ongoing efforts aim to identify and seize assets acquired through illicit means, ensuing accountability for those involved in the misappropriation of funds intended for the education of underprivileged students.
