High drama at Shamshabad airport as ED seizes ₹14 cr chartered flight in ₹850 crore Falcon case

High drama unfolded at Shamshabad airport on Friday when the Enforcement Directorate seized a chartered aircraft allegedly linked to Amardeep Kumar, the key accused in the ₹850 crore Falcon case.

The flight, worth ₹14 crore, was seized after it landed in Hyderabad from Dubai. The crew had requested permission to land, citing a medical emergency. However, upon realizing that no emergency existed, airport officials alerted security personnel, and the ED quickly intervened to seize the aircraft. Three members onboard the flight were also taken into custody. The situation caused chaos for over 12 hours.

The ED has been investigating the Falcon Group and its chairman, Amardeep Kumar, in connection with the ₹850 crore Ponzi scheme. The company raised ₹1,700 crore from the public through multi-level marketing schemes, disguised as invoice discounting investment opportunities. A sum of ₹850 crore has already been refunded to the depositors. The company defrauded a total of 6,979 people across the two Telugu States.

The Cyberabad Economic Offences Wing (EOW) has arrested three individuals, including Falcon Capital Ventures Director Kavya Nalluri and Business Head Pawan Kumar Odela.

Chairman Amardeep Kumar and several other executives of the Falcon Group are reportedly on the run.