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Time of India
9 hours ago
- Business
- Time of India
ED arrests top brass of Ramprastha Group in Rs 1,100 crore fraud case
NEW DELHI: The Enforcement Directorate (ED) Monday arrested Sandeep Yadav and Arvind Walia , director and promoter of Ramprastha Group , for their alleged involvement in an Rs 1,100 crore builder buyer fraud. The agency on Monday had carried out searches at three locations in Delhi and Gurugram in connection with a money-laundering probe against M/s Ramprastha Promoters & Developers Pvt Ltd (RPDPL). Both residential and business premises of the director and promoter were searched by the agency on Monday. Explore courses from Top Institutes in Select a Course Category Data Analytics Project Management Cybersecurity Technology Digital Marketing Operations Management others Management Others PGDM Data Science Design Thinking MBA healthcare Artificial Intelligence Finance MCA Product Management Leadership Healthcare Data Science Degree CXO Public Policy Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details Subsequently, Sandeep Yadav and Arvind Walia, director and majority shareholders of M/s RPDPL, were arrested by ED, said people in the know. Earlier, immovable properties worth Rs 681.54 crore belonging to M/s RPDPL and its group companies were provisionally attached by the agency on July 11. ED has claimed that its probe has revealed that M/s RPDPL had collected approximately Rs 1,100 crore from more than 2,000 homebuyers for various projects viz. Project Edge, Project Skyz, Project Rise and Ramprastha City (plotted colony project) and possession of the flats/ plots are yet to be given even after a lapse of 15-20 years.
The Hindu
17 hours ago
- Business
- The Hindu
Enforcement Directorate arrests two Ramprastha Group promoters in ₹1,100-crore alleged fraud case
The Enforcement Directorate (ED) has arrested Sandeep Yadav and Arvind Walia, promoters of Ramprastha Group, in connection with an alleged money-laundering case linked to a ₹1,100 crore builder-buyer 'scam' case, according to the agency. The agency earlier conducted searches at three locations in Delhi and Gurugram linked to the accused. Both the accused are majority shareholders of Ramprastha Promoters & Developers Private Limited (RPDPL), the flagship company of the group. Private builder asked to compensate allottee for not delivering flat on time As alleged by the ED, RPDPL had collected nearly ₹1,100 crore from more than 2,000 homebuyers across several residential projects, such as Project Edge, Project Skyz, Project Rise and the plotted colony Ramprastha City. However, it allegedly failed to deliver possession even after 15 to 20 years. Earlier, on July 11, the agency had attached immovable properties worth ₹681.54 crore related to RPDPL and its group companies. The attached assets included two plotted colonies of Ramprastha City measuring about 226 acres at Sector 37D, Sector 92 & 95, Gurugram and land parcels measuring about 1,700 acres in Basai, Gadoli Kalan, Hayatpur and Wazipur of Gurugram. The ED probe is based on the cases registered by the Delhi police's Economic Offences Wing the Haryana police based on the complaints of numerous homebuyers against RPDPL and its promoters Arvind Walia, Balwant Chaudhry Singh and Sandeep Yadav. '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 and possession of flats/plotted lands are yet to be given even after lapse of more than 14-17 years,' it had said.
Mint
17 hours ago
- Business
- Mint
ED arrests Ramprastha Group directors in ₹1,100 crore money laundering case; properties worth ₹681.54 crore attached
The Enforcement Directorate officials on Monday arrested Ramprastha Group directors – Sandeep Yadav and Arvind Walia – in ₹ 1,100 crore money laundering case, reported PTI. The report added that the ED also attached immovable properties worth Rs. 681.54 crores belonging to Ramprastha Promoters & Developers Pvt. Ltd and its group companies. 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. Earlier in the day, the ED searched the residential and business premises of Sandeep Yadav and Arvind Walia—the director and promoter of Ramprastha Group—at three locations in Delhi and Gurugram under the Prevention of Money Laundering Act, 2002. The ED investigation revealed that Ramprastha Promoters & Developers Pvt. Ltd collected approximately ₹ 1100 Crores from more than 2000 homebuyers for various projects including Project Edge, Project Skyz, Project Rise and Ramprastha City. However, their promoters and directors 'diverted' the funds to its group companies as advances for purchase of land parcels, etc, instead of using them for completion of promised homes, added the report. Despite after lapse of 15-20 years, the possession of the flats/ plots are yet to be given. Based on complaints of numerous homebuyers against RPDPL and its promoters, the money laundering case stems from multiple FIRs filed by the Economic Offences Wing (EOW) of the Delhi and Haryana Police. The homebuyers alleged RPDPL and its promoters – like Arvind Walia, Balwant Chaudhary and Sandeep Yadav – failed to deliver promised flats and plots within the promised timeframes, said ED. Further investigation in under progress. Earlier on 19 July, the ED issued notices to tech giants Meta and Google in connection with its ongoing investigation into alleged money laundering linked to betting apps, news agency ANI reported citing sources. They were reportedly been summoned to appear before the agency's Delhi headquarters on 21 July. 'Google and Meta platforms are promoting betting apps through advertisements and facilitating their reach to users,' ANI quoted an unnamed official source as saying.
Mint
18 hours ago
- Business
- Mint
ED arrests Ramprastha Group directors in ₹1,100 crore money laundering case; properties worth ₹681.54 crore attached
ED, has conducted search on the residential & business premises of Sandeep Yadav & Arvind Walia, director & promoter of Ramprastha Group on 21.07.2025 under PMLA, 2002 at 03 locations in Delhi and Gurugram in connection with a money-laundering case against Ramprastha Promoters & Developers Pvt. Ltd. (RPDPL). Subsequently, Sandeep Yadav and Arvind Walia, director and majority shareholders of RPDPL were arrested by ED. Earlier, immovable properties worth Rs. 681.54 crores belonging to M/s RPDPL and its group companies have been provisionally attached on 11.07.2025. ED investigation revealed that M/s RPDPL had collected approximately Rs. 1100 Crores from more than 2000 homebuyers for various projects viz. Project Edge, Project Skyz, Project Rise and Ramprastha City (plotted colony project) and possession of the flats/ plots are yet to be given even after lapse of 15-20 years. Further investigation in under progress.
Time of India
19 hours ago
- Business
- Time of India
ED arrests Sandeep Yadav and Arvind Walia, directors of Ramprastha Group, in homebuyers fraud linked PMLA case
The Enforcement Directorate ( ED ) on Monday arrested Sandeep Yadav and Arvind Walia , directors of real estate company Ramprastha Group , in homebuyers fraud linked PMLA case. On July 12, ED attached real estate group's land assets worth over Rs 680 crore to alleged fraud with homebuyers. Explore courses from Top Institutes in Select a Course Category ED issued a provisional order 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. Live Events 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.
