The private jet that Falcon Group CMD Amar Deep Kumar allegedly used to flee India was seized by the Enforcement Directorate (ED) in Hyderabad on Saturday, according to official sources.
The jet, worth around ₹14 crore, was seized as part of a money laundering investigation following an FIR against Hyderabad-based Falcon Group (Capital Protection Force Pvt Ltd), its CMD, and other promoters. The investigation by ED revealed an alleged fraud of about ₹850 crore.
ED officials in Hyderabad discovered that an 8-seater business jet supposedly owned by a company of Kumar, landed at the international airport in Shamshabad on Friday, sources said. This “N935H Hawker 800A” jet was reportedly bought for about $1.6 million in 2024 using the proceeds from the alleged Ponzi scheme, according to the ED.
The ED contacted the Customs Department about the movement of the jet, following which the agency discovered that Kumar and another person had fled the country, supposedly to Dubai, using it on January 22.
Emerging wealth in India has resulted in a rise in private jets in the country. By 2024-end, the number of private jets in India stood at 168.
The Falcon Group allegedly collected over ₹1,700 crore from investors in the guise of invoice discounting.
On failing to deliver returns, the group reportedly paid back only ₹850 crore to some investors.
Last month, officials apprehended Pavan Kumar Odela and Kavya Nalluri of Falcon Capital in connection with the alleged scam.
