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Hindustan Times
6 days 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
7 days 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
7 days 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.
India Gazette
11-07-2025
- India Gazette
Donkey route case: ED raids seven places in Haryana
New Delhi [India], July 11 (ANI): The Enforcement Directorate (ED) on Friday carried out searches at seven locations in Haryana in connection with the 'Donkey Route case' related to the illegal immigrants deported from USA in February, 2025. The searches, being carried out by Jalandhar Zonal Office, are underway at Haryana's Mansa, Kurukshetra and Karnal. Officials said that the searches are based on credible inputs gathered in previous search operation conducted on July 9 at 11 locations, including Amritsar, Sangrur, Patiala, Moga, Ambala, Kurukshetra, and Karnal targeting travel and visa agents allegedly involved in the illegal immigration network. 'Inputs gathered shows that second leg persons and human traffickers were used to arrange illegal route resources outside India in connivance with donkers(human trafficking conduits),' officials said. The Prevention of Money Laundering (PMLA) investigation was initiated based on 17 First Information Reports (FIRs) registered by the state police authorities in Punjab and Haryana against travel agents and middlemen accused of cheating individuals desperate to migrate to the US. 'These agents reportedly lured people with promises of legal travel arrangements but instead trafficked them through dangerous, illegal routes known as the Donkey Route--a term used for unauthorized, multi-country land crossings often fraught with peril,' said the officials in the ED, privy to the development. According to ED findings, agents charged exorbitant sums-- Rs 45 to Rs 50 lakh per person--under the pretense of legal migration. However, the agency officials said, victims were often smuggled across international borders through jungles and treacherous terrain with the involvement of organized crime networks and so-called 'Donkers' (trafficking facilitators). Investigators further revealed that once the victims were in transit, the agents and their associates coerced families back home to make additional payments by creating a sense of fear and threat to their loved ones' safety,' said the officials. Statements from several deportees have been recorded by the ED, leading to the identification of multiple suspects whose premises are currently being searched as part of the ongoing crackdown. The case highlights a growing concern over transnational human trafficking networks operating under the guise of legitimate immigration services. (ANI)
Time of India
07-07-2025
- Business
- Time of India
Elaborate reporting norms likely under PMLA
The Financial Intelligence Unit (FIU) is eyeing a fresh framework for reporting entities under the Prevention of Money Laundering (PML) Rules and will approach the Reserve Bank to enhance reporting requirements , people familiar with the development said. Changes could include enhanced user details, immediate alert for any change in 'know your customer' (KYC) for accounts red-flagged for suspicious transactions and a fresh set of 'alert indicators' for capital market, money exchanges and bulk property or gems and jewellery purchases. The move aims to make disclosures more robust in the fintech and cryptocurrency space to prevent suspicious transactions before it is too late to track. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Monatelang ausverkauft – Ohrenreiniger Nummer 1 endlich wieder verfügbar! (70% Rabatt!) Apotheke Regional Undo "There is a need for enhancing the reporting requirement especially in fintech space and crypto currency, where enforcing agencies face maximum challenges. We are discussing it with RBI and other regulators and will formally approach them with a framework for detailed discussions," a senior official told ET. Live Events In April, both FIU-IND and RBI signed a memorandum of understanding (MoU) for better information exchange and effective implementation of requirements of the Prevention of Money Laundering Act and Rules. While most of these reporting agencies send their reports to the FIU on quarterly basis with suspicious transaction reports, officials said that by the time the report reaches, money crosses several borders making it difficult to get the trail. "The idea is that when a big bulk transfer or purchase happens, it will immediately send an alert to the internal system so that FIU can be immediately alerted, which makes it easier to track the transaction. This will also help FIU to generate meaningful intelligence for law enforcement agencies like the income tax department, ED and CBI, the official said. FIU had introduced the 'alert indicators' in 2022 for the capital market, but it is felt that these need to be revamped in view of technological changes over time. "The idea is to track order spoofing, misutilisation of client funds by stock brokers and suspicious off-market transactions by brokers and users," the official added.
