Hyderabad | December 3, 2025 | The Directorate of Enforcement (ED), Hyderabad Zonal Office, has listed a seized luxury aircraft for auction in connection with a large-scale financial fraud case. The Hawker 800A business jet (registration number N935H) is currently parked at Begumpet Airport and remains open for inspection until December 7. The auction is set to take place on December 9 through MSTC Limited’s e-platform.
According to ED officials, proceeds from the sale will be utilised to compensate victims who lost their money in the alleged investment scam.
Bogus Invoice Discounting Scheme Under Probe
The aircraft was seized on March 7, 2025, during a search operation under the Prevention of Money Laundering Act (PMLA). The case stems from a probe into Capital Protection Force Pvt. Ltd. and its promoter Amardeep Kumar, who is accused of orchestrating a fraudulent invoice-discounting scheme under the banner of Falcon Group.
The ED initiated its investigation based on FIRs registered by Cyberabad’s Economic Offences Wing — Nos. 10/2025, 11/2025 and 12/2025 — alleging that investors were lured with promises of extraordinarily high returns and cheated of ₹792 crore.
Mastermind Fled India on the Same Aircraft
Investigators found that Amardeep Kumar purportedly fled the country using this very aircraft just before the FIRs were lodged. He is currently absconding abroad. The ED is working with other agencies to trace his location and initiate extradition proceedings.
Assets Worth ₹18.63 Crore Attached; Three Arrested
As part of the probe, the ED has provisionally attached assets worth ₹18.63 crore linked to the accused. Three individuals have also been arrested:
- Sandeep Kumar — brother of the main accused
- Sharad Chandra Toshniwal — chartered accountant
- Aryan Singh Chhabra — Chief Operating Officer, Capital Protection Force Pvt. Ltd.
A Prosecution Complaint has already been filed before the Special PMLA Court in Ranga Reddy on September 29, 2025.
Aircraft Purchased for Over ₹13 Crore in 2024
The ED revealed that the aircraft was purchased in 2024 for USD 1.6 million, valued at over ₹13 crore. The seizure was confirmed by the Adjudicating Authority under PMLA on August 18, 2025.
Given the high maintenance and parking costs and the risk of natural degradation of the asset, the ED sought permission to dispose of the aircraft under Rule 4(2) of the PML (Taking Possession of Attached or Frozen Properties) Rules, 2013. Permission to auction the jet was granted on November 20, 2025.
ED Cautions Public Against Unrealistic Investment Schemes
Authorities reiterated that scams promising abnormally high and assured returns pose significant financial risk to retail investors. The ED urged the public to:
- Verify regulatory approvals before investing
- Be wary of schemes offering unusually high returns
- Report suspicious solicitations to enforcement agencies immediately
The agency believes that auctioning the aircraft will help speed up restitution to affected investors. Meanwhile, efforts to apprehend the fugitive mastermind and dismantle the complete financial network behind the scam remain underway.
Further investigation is in progress.
