ED inspects Ramprastha Group properties in Gurugram money laundering case
The Enforcement Directorate on Wednesday conducted searches at multiple locations of real estate firm Ramprastha Group in Gurugram as part of a money laundering probe into alleged homebuyer fraud, official sources said.
The ED case follows a series of FIRs filed by local police against the company by “disgruntled homebuyers for not fulfilling their promise to hand over the (housing) projects to them,” the sources said.
The projects include Ramprastha Rise, Ramprastha City and Ramprastha SKYZ in Gurugram, Haryana.
PTI’s calls to the company were not responded to.
ED sources said that some of the group’s initiators, such as Balwant Chaudhary, Arvind Walia and Sandeep Yadav, have been summoned for questioning, but they have not yet joined the probe.
The company said on its website that it has a large land bank in Gurugram with a combined development potential of over 7.5 million square meters.
“We have successfully sold 8,000 residential units in the region and have the potential to reach the 100,000 residential units mark in the coming days,” the company said.
The ED action in Haryana comes ahead of the state Assembly elections on October 5.
(Only the headline and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First publication: 06 Sep 2024 | 00:03 IST