NEW DELHI: The Enforcement Directorate (ED) has seized immovable assets valued at approximately Rs 944 crore under the Prevention of Money Laundering Act. This action is tied to allegations of failure to deliver housing units to more than 1,500 homebuyers in Haryana and Rajasthan, officials reported on Monday.
The affected projects are situated in Palwal, Faridabad, Rewari, and Bhiwadi, where buyers allegedly did not receive possession even after making payments, the agency stated.
In a recent announcement, the ED indicated it “has provisionally attached immovable properties worth about Rs 944 crore, owned by Piyush Colonisers Limited, former promoters of the company, and associated business entities/persons.”
The confiscated assets comprise project land, residential units, agricultural land, and commercial properties across the four locations, including around 63 acres in Palwal, 62 acres in Bhiwadi, about 7 acres in Dharuhera, and nearly 19,000 sq ft of commercial space in Faridabad.
The investigation was initiated following FIRs lodged by the Haryana Police, the Economic Offences Wing (EOW) in New Delhi, and the CBI under various sections of the IPC, 1860, addressing alleged criminal conspiracy, cheating, and misconduct.
