Tag: Enforcement Directorate chargesheet

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ED Chargesheets Ocean Seven Buildtech’s Promoter in PMAY Fraud

NEW DELHI: The Enforcement Directorate (ED) has filed a chargesheet against a promoter of a Gurugram-based real estate firm and several others as part of a money laundering probe related to an alleged fraud involving homebuyers under the Pradhan Mantri Awas Yojana (PMAY). This prosecution complaint was submitted to a special Prevention of Money Laundering Act (PMLA) court at Patiala House. The chargesheet involves several sections of the anti-money laundering law, identifying Swaraj Singh Yadav, the promoter of Ocean Seven Buildtech Pvt Ltd (OSBPL), along with associated entities as accused, according to the agency’s statement. This week, the ED attached…

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ED Files Extra Chargesheet on 1,700-Acre PMC-HDIL Lands

MUMBAI: The Enforcement Directorate (ED) has submitted a third supplementary chargesheet in the PMC Bank and Housing Development & Infrastructure Pvt Ltd (PMC-HDIL) loan fraud investigation. This chargesheet pertains to around 1,700 acres of land in the Sindhudurg district, which the agency has already attached and is seeking to have confiscated by the court. In the chargesheet, the ED alleges that Rakesh Wadhawan and Sarang Wadhawan, along with others, misused funds embezzled from PMC Bank to acquire agricultural land in the names of proxies, including their employees. Their intention was to sell this land at a profit for a proposed…