ED to auction seized aircraft linked to Falcon scam

The Directorate of Enforcement (ED), Hyderabad, has announced the auction of a seized Hawker 800A aircraft, currently parked at Begumpet Airport. The aircraft, bearing registration number N935H, will be open for inspection until December 7, with the auction scheduled for December 9 through MSTC Limited. The proceeds will be used to compensate victims of the alleged fraud.

The aircraft was seized on March 7, 2025 from Rajiv Gandhi International Airport during searches conducted under the Prevention of Money Laundering Act (PMLA), in connection with a case involving Amardeep Kumar, Capital Protection Force Pvt. Ltd., and others.

The ED began its probe following three FIRs registered on February 11 by the Cyberabad Economic Offence Wing (EOW) against Falcon Group (Capital Protection Force Pvt. Ltd) and its CMD, Amardeep Kumar, for allegedly running a bogus invoice-discounting scheme. Investigators found that the scheme, operated under the banner ‘Falcon Invoice Discounting’, defrauded investors of ₹792 crore.

According to the agency, Amardeep Kumar fled the country using the same aircraft before the FIRs were filed and remains absconding abroad. The ED has so far provisionally attached assets worth ₹18.63 crore and arrested three individuals – Amardeep’s brother Sandeep Kumar; chartered accountant Sharad Chandra Toshniwal; and Capital Protection Force Pvt. Ltd COO Aryan Singh Chhabra. A prosecution complaint was filed before the Special PMLA Court, Rangareddy, on September 29.

Investigators found that the aircraft was purchased by Amardeep Kumar in 2024 for ₹1.6 million. After its seizure, the ED secured confirmation of attachment from the Adjudicating Authority on August 18. Citing high maintenance costs, the agency sought permission to sell the aircraft under Rule 4(2) of the Prevention of Money Laundering (Taking possession of attached or frozen properties) Rules, 2013. Approval to auction was granted on November 20.

Further investigation is under way.