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Hindustan Times
11 hours ago
- Business
- Hindustan Times
Homebuyers 'fraud': ED attaches assets worth ₹681 crore of Ramprastha group
Colonies and plots spread across more than 1,900 acres, worth over ₹680 crore, of the Ramprastha real estate group in Gurugram have been attached in a case linked to alleged fraud with homebuyers, the Enforcement Directorate (ED) said on Saturday. Colonies and plots spread across more than 1,900 acres, worth over ₹ 680 crore, of the Ramprastha real estate group in Gurugram have been attached in a case linked to alleged fraud with homebuyers. (Picture for representational purposes only)( (iStock)) A provisional order has been issued under the Prevention of Money Laundering (PMLA) in a case against Ramprastha Promoters and Developers Pvt Ltd (RDDPL) and its group companies, the federal agency said in a statement. The attached properties include plotted colonies of Ramprastha City measuring 226 acres in Sectors 37D, Sector 92 and 95 in Gurugram and land parcels measuring 1,700 acres in Basai, Gadoli Kalan, Hayatpur and Wazipur in Gurugram. Also Read: ED attaches properties worth ₹33.80 cr of city builder The total value of these assets is 681.54 crore, the agency said. Neither the company nor its directors could be contacted for a response to the ED action against them. Also Read: ED attaches Delhi-NCR realty group's assets worth ₹2,348 crore The money laundering case stems from multiple FIRs filed by the Economic Offences Wing (EOW) of the Delhi and Haryana Police based on complaints of numerous homebuyers against RPDPL and its promoters, like Arvind Walia, Balwant Chaudhary and Sandeep Yadav, for their "failure" to deliver promised flats and plots within the promised timeframes, the ED said. Probe found, the ED said, that various projects of RPDPL, such as Project Edge, Project Skyz, Project Rise and Ramprastha City (in various sectors of Gurugram) were launched during 2008-2011 and possession of flats/plotted lands are yet to be given even after lapse of more than 14-17 years. Also Read: Tesla plans to open Mumbai showroom on July 15: Key facts on India's costliest lease deal and its real estate portfolio The company collected about ₹1,100 crore from more than 2,000 homebuyers for the said projects, but the promoters and directors of the company "diverted" these funds to its group companies as advances for purchase of land parcels, etc, instead of using them for completion of promised homes, it said.
Time of India
20 hours ago
- Business
- Time of India
Enforcement directorate attaches assets worth ₹681 crore of Ramprastha group
NEW DELHI: Colonies and plots spread across more than 1,900 acres, worth over Rs 680 crore, of the Ramprastha real estate group in Gurugram have been attached in a case linked to alleged fraud with homebuyers, the Enforcement Directorate (ED) said on Saturday. A provisional order has been issued under the Prevention of Money Laundering (PMLA) in a case against Ramprastha Promoters and Developers Pvt Ltd (RDDPL) and its group companies, the federal agency said in a statement. The attached properties include plotted colonies of Ramprastha City measuring 226 acres in Sectors 37D, Sector 92 and 95 in Gurugram and land parcels measuring 1,700 acres in Basai, Gadoli Kalan, Hayatpur and Wazipur in Gurugram. The total value of these assets is 681.54 crore, the agency said. Neither the company nor its directors could be contacted for a response to the ED action against them. The money laundering case stems from multiple FIRs filed by the Economic Offences Wing (EOW) of the Delhi and Haryana Police based on complaints of numerous homebuyers against RPDPL and its promoters, like Arvind Walia, Balwant Chaudhary and Sandeep Yadav, for their "failure" to deliver promised flats and plots within the promised timeframes, the ED said. Probe found, the ED said, that various projects of RPDPL, such as Project Edge, Project Skyz, Project Rise and Ramprastha City (in various sectors of Gurugram) were launched during 2008-2011 and possession of flats/plotted lands are yet to be given even after lapse of more than 14-17 years. The company collected about Rs 1,100 crore from more than 2,000 homebuyers for the said projects, but the promoters and directors of the company "diverted" these funds to its group companies as advances for purchase of land parcels, etc, instead of using them for completion of promised homes, it said.
Time of India
a day ago
- Business
- Time of India
Homebuyers 'fraud': ED attaches assets worth Rs 681 crore of Ramprastha group
The Enforcement Directorate has attached Ramprastha real estate group's properties. These properties are worth over Rs 680 crore in Gurugram. The attachment relates to a case of alleged fraud with homebuyers. The company failed to deliver promised flats and plots. The company diverted about Rs 1,100 crore collected from over 2,000 homebuyers. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Colonies and plots spread across more than 1,900 acres, worth over Rs 680 crore, of the Ramprastha real estate group in Gurugram have been attached in a case linked to alleged fraud with homebuyers, the Enforcement Directorate (ED) said on Saturday.A provisional order has been issued under the Prevention of Money Laundering (PMLA) in a case against Ramprastha Promoters and Developers Pvt Ltd (RDDPL) and its group companies, the federal agency said in a attached properties include plotted colonies of Ramprastha City measuring 226 acres in Sectors 37D, Sector 92 and 95 in Gurugram and land parcels measuring 1,700 acres in Basai, Gadoli Kalan, Hayatpur and Wazipur in total value of these assets is 681.54 crore, the agency the company nor its directors could be contacted for a response to the ED action against money laundering case stems from multiple FIRs filed by the Economic Offences Wing (EOW) of the Delhi and Haryana Police based on complaints of numerous homebuyers against RPDPL and its promoters, like Arvind Walia, Balwant Chaudhary and Sandeep Yadav, for their "failure" to deliver promised flats and plots within the promised timeframes, the ED found, the ED said, that various projects of RPDPL, such as Project Edge, Project Skyz, Project Rise and Ramprastha City (in various sectors of Gurugram) were launched during 2008-2011 and possession of flats/plotted lands are yet to be given even after lapse of more than 14-17 company collected about Rs 1,100 crore from more than 2,000 homebuyers for the said projects, but the promoters and directors of the company "diverted" these funds to its group companies as advances for purchase of land parcels, etc, instead of using them for completion of promised homes, it said.
