Tag: Arvind Walia

Latest StoriesRegulatory

PMLA Court Denies Jailed Director’s Request for Online Meetings

CHANDIGARH: In a significant ruling, the Special PMLA court in Gurgaon denied requests from Arvind Walia, an imprisoned director of Ramprastha Promoters and Developers Private Ltd, to conduct online meetings or manage professional responsibilities from jail. Walia is currently held in Gurugram jail after his arrest by the Enforcement Directorate (ED). Walia and fellow director Sandeep Yadav were taken into custody on July 21 last year, accused of defrauding over 2,000 homebuyers by collecting approximately ₹1,100 crore across various real estate projects, failing to deliver possession for over 14 years. Through his lawyer, Walia submitted applications to Judge Vani Gopal…

Latest StoriesRegulatory

ED Seizes Vatika, Unitech Assets in Homebuyers’ Fraud Case

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…

Latest StoriesRera

Haryana RERA Issues Notice to Ramprastha Developers

GURUGRAM: The Real Estate Regulatory Authority (HRera) has issued a show-cause notice to Ramprastha Promoters & Developers Pvt Ltd, demanding compliance with pending orders or face civil imprisonment. This action follows the recent arrest of the company’s directors, Arvind Walia and Sandeep Yadav, by the Enforcement Directorate (ED) in connection with a ₹1,100-crore money laundering case involving over 2,000 defrauded homebuyers. The notice states: “Show cause as to why you, being promoters, should not be detained in civil prison under Section 40(1) of the Real Estate (Regulation and Development) Act, 2016, for a term not exceeding three months for failing…

Latest StoriesRegulatory

ED Takes Custody of Two Ramprastha Group Directors in ₹1,100 Crore Fraud

Representative image created by AI GURUGRAM: The Enforcement Directorate (ED) has secured a two-day custody of Sandeep Yadav and Arvind Walia, the promoters of the Haryana-based Ramprastha Group, as part of a money laundering investigation tied to an alleged ₹1,100 crore fraud involving homebuyers. The arrests occurred on Monday following raids at three locations in Delhi and Gurugram, including the residences of the directors, conducted by the ED’s Gurugram zonal office. Yadav and Walia are directors and major shareholders of Ramprastha Promoters and Developers Pvt Ltd (RPDPL). They were detained under the Prevention of Money Laundering Act (PMLA). The federal…