Kalpataru Ltd denies links with fraudulent group misusing its name after Enforcement Directorate's property attachment statement

New Delhi [India], March 28 (ANI): Kalpataru Ltd on Friday denied any link with the fraudulent group misusing its name, following the Enforcement Directorate's (ED) statement that it had attached has attached three immovable properties worth Rs 6.17 crore on Thursday, located in Ahmedabad and Kannauj which were linked to "Kalpataru Group companies" under the Prevention of Money Laundering Act (PMLA), 2002.

"ED, Lucknow Zonal Office has attached 03 immovable properties worth Rs. 6.17 Crore(approx.) on 27/03/2025 in the form of land and are situated at Ahmedabad (Gujarat) and Kannauj (UP) in the name of M/s Kalpataru Group companies and the entities associated with the group under the provisions of the PMLA, 2002", ED shared a post on their official 'X' handle and informed about the development.
However, the 'Kalpataru Group' has issued a statement and denied their any involvement with the fraudulent group, which has been misusing its name.
Kalpataru Ltd. also pointed out that it is in the process of taking further legal action against the group for misusing its trademark and further condemned the actions of the fraudsters, calling them not only a violation of the law but also an attempt to damage the company's established reputation.
"We categorically deny any association with the fraudulent group misusing the 'Kalpataru' name The name "KALPATARU" is an exclusively registered trademark and tradename owned by us. Despite legal and prohibitory injunction order obtained by one of our group companies frPMLAom the Hon'ble Bombay High Court in the year 2015 (later final order dated 03.05.2016) against the aforementioned fraudsters, they illegally continue to misuse / infringe our trademark to create confusion and benefit from our group's reputation and goodwill. The gross misuse of its registered and well known tradename and/or logo is both not only in contravention of the order of Hon'ble Bombay High Court (Order copy attached) but also misleading and mischievous. Kalpataru group is in the process of taking necessary legal recourses against them", an official spokesperson from Kalpataru group said in its statement. (ANI)