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Time of India
5 hours ago
- Business
- Time of India
ED attaches ₹1,200crore properties of builder, auto part company in Gurugram
The ED's Gurugram Zonal Office attached properties worth ₹ 681.54 crore and ₹ 588.57 crore in the Gurugram zone in two separate money laundering cases linked to Ramprastha Promoters and Developers and Amtek Auto, an official said on Saturday. In the first case, the Enforcement Directorate (ED) attached immovable properties of Ramprastha Promoters for cheating homebuyers. Investigation revealed that RPDPL collected ₹ 1,100 crore from more than 2,000 homebuyers but failed to deliver projects on time. The attached properties include two plotted colonies of Ramprastha City admeasuring 226 acres located at Sector 37D, Sector 92 and 95, Gurugram and land parcels admeasuring 1,700 acres situated at Village Basai, Gadoli Kalan, Hayatpur and Wazipur in Gurugram, Haryana, said an ED statement. The federal agency initiated an investigation under the provisions of PMLA, 2002, on the basis of multiple FIRs registered by the Economic Offences Wing (EOW), New Delhi, and Haryana Police. The ED investigation revealed that various projects of RPDPL, such as Project Edge, Project Skyz, Project Rise and Ramprastha City (plotted colony project) situated at Sectors 37D, 92 and 95 Gurugram were launched in 2008-2011, but possession of flats/ plotted lands was yet to be given. In the other case, ED's Gurugram Zonal Office has provisionally attached movable and immovable assets worth ₹ 588.57 crore on July 10 in connection with the bank Fraud case involving Amtek Auto Limited, ARG Limited, ACIL Limited, Metalyst Forging Limited, and Castex Technologies Limited, along with promoter Arvind Dham and others. The attached immovable properties include 28 acres of land located in Hundewala, Ratuali and Kansapur at Yamuna Nagar and 67.5 acres of land at Kot and Khangesara villages of Panchkula, Haryana, along with other assets in the Delhi/NCR region. Additionally, the attached assets include fixed deposits amounting to ₹ 8.70 crore, as well as shares, with a total valuation of ₹ 14.6 crore. The latest ED action follows previous provisional attachments of ₹ 5,115.31 crore on September 5, 2024, and ₹ 557.49 crore on March 26, with the first attachment already confirmed by the PMLA Adjudicating Authority. The total attachment in the case now stands at ₹ 6,261.37 crore. The ED had previously conducted searches at over 40 locations, leading to the arrest of Arvind Dham and filed a prosecution complaint on September 6, 2024. The ED initiated an investigation based on the Supreme Court directions on February 27, 2024, while hearing the PIL against Amtek Auto group of companies, and FI₹ registered by the CBI on complaints filed by IDBI Bank and Bank of Maharashtra alleging illegal diversion of bank loans. --IANS rch/dan
Time of India
14 hours ago
- Business
- Time of India
ED attaches Rs 1,200-crore properties of builder, auto part company in Gurugram
The ED's Gurugram Zonal Office attached properties worth ₹ 681.54 crore and ₹ 588.57 crore in the Gurugram zone in two separate money laundering cases linked to Ramprastha Promoters and Developers and Amtek Auto, an official said on Saturday. In the first case, the Enforcement Directorate (ED) attached immovable properties of Ramprastha Promoters for cheating homebuyers. Investigation revealed that RPDPL collected ₹ 1,100 crore from more than 2,000 homebuyers but failed to deliver projects on time. The attached properties include two plotted colonies of Ramprastha City admeasuring 226 acres located at Sector 37D, Sector 92 and 95, Gurugram and land parcels admeasuring 1,700 acres situated at Village Basai, Gadoli Kalan, Hayatpur and Wazipur in Gurugram, Haryana, said an ED statement. The federal agency initiated an investigation under the provisions of PMLA, 2002, on the basis of multiple FIRs registered by the Economic Offences Wing (EOW), New Delhi, and Haryana Police. The ED investigation revealed that various projects of RPDPL, such as Project Edge, Project Skyz, Project Rise and Ramprastha City (plotted colony project) situated at Sectors 37D, 92 and 95 Gurugram were launched in 2008-2011, but possession of flats/ plotted lands was yet to be given. In the other case, ED's Gurugram Zonal Office has provisionally attached movable and immovable assets worth ₹ 588.57 crore on July 10 in connection with the bank Fraud case involving Amtek Auto Limited, ARG Limited, ACIL Limited, Metalyst Forging Limited, and Castex Technologies Limited, along with promoter Arvind Dham and others. The attached immovable properties include 28 acres of land located in Hundewala, Ratuali and Kansapur at Yamuna Nagar and 67.5 acres of land at Kot and Khangesara villages of Panchkula, Haryana, along with other assets in the Delhi/NCR region. Additionally, the attached assets include fixed deposits amounting to ₹ 8.70 crore, as well as shares, with a total valuation of ₹ 14.6 crore. The latest ED action follows previous provisional attachments of ₹ 5,115.31 crore on September 5, 2024, and ₹ 557.49 crore on March 26, with the first attachment already confirmed by the PMLA Adjudicating Authority. The total attachment in the case now stands at ₹ 6,261.37 crore. The ED had previously conducted searches at over 40 locations, leading to the arrest of Arvind Dham and filed a prosecution complaint on September 6, 2024. The ED initiated an investigation based on the Supreme Court directions on February 27, 2024, while hearing the PIL against Amtek Auto group of companies, and FI₹ registered by the CBI on complaints filed by IDBI Bank and Bank of Maharashtra alleging illegal diversion of bank loans. --IANS rch/dan
Hindustan Times
16 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
a day 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.
The Hindu
a day ago
- The Hindu
ED attaches assets worth ₹681.54 crore in Ramprastha Promoters & Developers case
The Enforcement Directorate has attached immovable properties worth ₹681.54 crore linked to Ramprastha Promoters & Developers Private Limited (RPDPL) and its group companies, in a case alleging that homebuyers were cheated. The attached assets include two plotted colonies of Ramprastha City, measuring about 226 acres at Sector 37D, Sector 92, and Sector 95, Gurugram, as well as land parcels measuring about 1,700 acres in Basai, Gadoli Kalan, Hayatpur, and Wazipur, Gurugram. The ED probe is based on cases registered by the Delhi Police's Economic Offences Wing (EOW) and the Haryana Police, following complaints from numerous homebuyers against RPDPL and its promoters Arvind Walia, Balwant Chaudhry Singh, and Sandeep Yadav. They allegedly failed to deliver the flats and plots within the promised timeframes. 'ED investigation revealed that various projects of RPDPL, such as Project Edge, Project Skyz, Project Rise, and Ramprastha City (a plotted colony project) situated at Sectors 37D, 92, and 95, Gurugram, were launched between 2008 and 2011, and possession of flats and plotted lands is yet to be given even after the lapse of more than 14 to 17 years,' it said. As alleged, RPDPL collected about ₹1,100 crore from over 2,000 homebuyers for these projects. The funds were allegedly diverted.
