New Delhi, Dec 26 (PTI) Mumbai-based real estate and engineering contracts firm Kalpataru Group has clarified that it has no connection with the recent ED probes conducted in a money laundering case against an Uttar Pradesh-based business group that has been “mischievous” . using its trademark and trade name ‘Kalpataru’.
Kalpataru Group, headquartered in Mumbai, is in no way involved in “fraudulent” activities or Ponzi schemes, the report said.
The Enforcement Directorate had issued a statement on December 19 saying it had made the seizure ₹1.02 crore in cash after it conducted searches at multiple locations in Uttar Pradesh in an alleged Ponzi scheme related to money laundering against the “Kalpataru Group of Companies.”
According to the agency, the raids were carried out on December 18 at 16 properties in Agra, Mathura and Noida against Mithilesh Singh, wife of the ‘main accused’ late Jai Kishan Rana, his close associates, chartered accountants, real estate agents and some other officers. agents.
“We categorically deny any association whatsoever with the fraudulent group (Uttar Pradesh-based group) mischievously using our trademark and trade name ‘Kalpataru’.”
“The name “KALPATARU” is an exclusive registered trademark and trade name owned by us, recognized by the Hon’ble Bombay High Court and the Registrar of Trade Marks, duly protected under the laws of India,” a Kalpataru spokesperson said in a statement.
The spokesperson said that “despite a statutory and prohibitory order obtained by one of our group companies from the Hon’ble Bombay High Court in 2015 (later culminating in a final order dated 03.05.2016) against the said fraudsters, they are illegally continuing to misuse/infringe trademark/trade name to create confusion and take advantage of the reputation and goodwill of our group.”
The “misuse” of Kalpataru’s trade name and trademark is not only in violation of the Bombay High Court order but also “misleading and mischievous”, the spokesperson said, adding that the group was in the process of taking necessary legal action against the fraudsters.