TaxTMI 
TaxTMI 
Hombuyers fraud: ED attaches over Rs 50-cr worth assets of Gurugram realty group
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....ombuyers fraud: ED attaches over Rs 50-cr worth assets of Gurugram realty group<BR>PMLA / Black Money<BR>Dated:- 6-1-2026<BR>PTI<BR>New Delhi, Jan 6 (PTI) The ED has attached a villa, a hotel, and a resort, besides land parcels and deposits worth over Rs 50 crore, in connection with a homebuyers' fraud" linked money laundering probe against Gurugram-based realty firm Ocean Seven Buildtech Pvt Ltd ....
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....(OSBPL). The Enforcement Directorate, in a statement, said that the promoter and key decision-maker of the company, Swaraj Singh Yadav, played a "central role" in orchestrating the scheme and in deliberately diverting funds collected from homebuyers for the construction of houses. Yadav was arrested by the central probe agency in November as part of the investigation. The attached assets inc....
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....lude a villa, a hotel and resort, several office spaces, and multiple land parcels located in Gurugram (Haryana), Himachal Pradesh, and Maharashtra, totalling Rs 49.79 crore in value. The agency also seized Rs 1.78 crore in cash and deposits held in bank accounts of Yadav, the real estate company, and related entities. The total value of these assets is Rs 51.57 crore, the agency said. "The ....
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....attachment follows a detailed financial investigation which revealed systematic misuse of funds collected from a large number of homebuyers who had invested their savings in affordable housing projects. "Instead of being utilised for construction and delivery of the promised units, the projects remained incomplete, allotments were cancelled in an arbitrary manner, and the homebuyers were subject....
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....ed to prolonged uncertainty and financial loss, while the funds entrusted for project development were diverted for purposes unrelated to the housing projects," the ED alleged. The money laundering investigation against OSBPL and Yadav stems from FIRs filed by the Delhi and Haryana police on charges that the company duped homebuyers of affordable housing projects through arbitrary cancellations ....
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....and re-allotments. The ED told a court, while seeking Yadav's remand, and in a public statement, that his wife Sunita Swaraj "relocated" to the US in August 2025 and was found residing at Harvard University in Boston, Massachusetts. The same housing units built by the company were "repeatedly" resold at inflated prices, generating substantial illicit proceeds, it said. Parking spaces and can....
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....celled units were monetised at rates far above permissible limits, and forged documents were used to justify illegal cancellations, the ED said. "The diverted funds were further layered and utilised for personal expenses, acquisition of properties and other ventures, reflecting a calculated abuse of trust reposed by homebuyers," the agency alleged. PTI NES VN VN<BR> News - Press release - PIB....