NEW DELHI: On Tuesday, the Enforcement Directorate reported the seizure of “incriminating” documents and asset details during searches of real estate firm Raheja Developers Ltd. and its directors, as part of a money laundering investigation linked to alleged fraud against homebuyers.
The raids occurred on June 27 in Delhi-NCR and Mohali, Punjab.
The ED’s money laundering case arises from several FIRs filed by the Economic Offences Wing (EOW) of the Delhi Police against Raheja Developers Ltd, its Managing Director Naveen Raheja, and others. The agency stated that the FIRs claim “substantial” sums were fraudulently collected from investors and homebuyers with promises of delivering residential flats in various housing projects, which were not fulfilled.
The company was unavailable for comment on the ED’s allegations.
During the searches, a number of incriminating documents, digital devices, and details of both movable and immovable properties were confiscated, according to the ED.
