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Time of India
an hour ago
- 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.
Deccan Herald
an hour ago
- Deccan Herald
Fynbos, Sovereign King fancied
Ten top champion colts and six well-bred fillies will come under the starters flag for the richest event of the summer races that has a total stakes of Rs 2.50 crore on offer with the winner taking home Rs 1.22 crore on the Derby Day.
Time of India
an hour ago
- Time of India
Rs 500 crore in UD tax still unrecovered, no action on outsourced firm
Jaipur: Despite ongoing efforts to improve revenue collection, Jaipur Municipal Corporation- Greater (JMC-G) has not been able to recover Urban Development (UD) tax of nearly Rs 500 crore pending since 2007. Tired of too many ads? go ad free now The civic body has begun organising tax collection camps across various zones to address this issue but officials admit that actual recovery remains poor. However, no action has been yet taken against Sparrow, the private company hired to assist with tax collection, despite its consistent underperformance. A senior official, speaking on condition of anonymity, admitted, "We have organised multiple outreach camps but response wasn't as expected. The backlog is significant and we are under pressure to show results." JMC-G has been outsourcing tax recovery operations to Sparrow for several years but there has been no major improvement in collection efficiency. Residents have also raised concerns about company's inconsistent service, lack of follow-up and limited accountability. An internal review of the collection progress reportedly showed no substantial year-on-year growth, prompting questions about corporation's continued reliance on same outsourced agency. However, no official action or penalty has been initiated against Sparrow so far. JMC-G officials say they are now exploring alternative methods and digital platforms to speed up collections and reduce dependency on third-party contractors. However, with financial year progressing rapidly and revenue targets still unmet, pressure is mounting on administration to act decisively.
