Homebuyers 'fraud': ED attaches assets worth Rs 681 cr of Ramprastha group

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....omebuyers 'fraud': ED attaches assets worth Rs 681 cr of Ramprastha group<BR>PMLA / Black Money<BR>Dated:- 12-7-2025<BR>PTI<BR>New Delhi, Jul 12 (PTI) 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.....

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.... 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 B....

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....asai, 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 aga....

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....inst 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 fl....

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....ats/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. PTI NES VN VN<....

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