NEW DELHI: The Enforcement Directorate has attached assets valued at ₹80 crore from real estate firms, including Vatika and Unitech Groups, as part of a money laundering investigation concerning the Gurugram-based Ramprastha Group for alleged homebuyer fraud.
A provisional order was issued by the federal investigative agency on Wednesday to attach these properties under the Prevention of Money Laundering Act (PMLA).
The investigation focuses on Ramprastha Promoters and Developers Pvt Ltd (RPDPL) and its related entities. The total value of the attached assets is ₹80.03 crore, as stated by the Enforcement Directorate (ED).
“The attached assets encompass movable and immovable properties of Vatika Group, Unitech Group, and other entities, which received funds diverted from homebuyers rather than being used for projects undertaken by RPDPL,” the statement noted.
Attempts to contact all three companies for comments were unsuccessful.
Previously, the agency had attached, frozen, and seized properties worth ₹786 crore as part of this investigation.
“With this latest attachment, the cumulative value of assets attached and seized in this case now amounts to ₹866 crore,” the ED stated.
The money laundering case originates from multiple FIRs filed by the Economic Offences Wings of the Delhi and Haryana Police, following a series of complaints from homebuyers against RPDPL and its promoters—Arvind Walia, Balwant Chaudhary, and Sandeep Yadav—due to their “failure” to deliver promised flats and plots on time, as previously reported by the ED.
The investigation revealed that several projects, including Project Edge, Project Skyz, Project Rise, and Ramprastha City (located in various sectors of Gurugram), were launched between 2008 and 2011, yet possession of flats or plots has not been granted.
The company raised approximately ₹1,100 crore from over 2,000 homebuyers for these projects, but the promoters and directors allegedly “diverted” these funds to affiliated companies as advances for land purchases, instead of utilizing them for completing the promised homes, the agency reported.
Directors and majority shareholders of RPDPL—Walia and Yadav—were arrested by the agency in July and are currently in judicial custody.
