ED Raids Builders in Delhi-NCR Over ‘Subvention Scheme’ Fraud
NEW DELHI: The Enforcement Directorate (ED) conducted searches at various locations in Delhi-NCR on Wednesday as part of a money laundering investigation linked to alleged fraud involving homebuyers with subvention schemes, officials reported. At least five premises associated with three companies—CHD Developers Ltd., Ninex Developers Ltd., and Manju J Homes (India) Ltd.—were raided under the Prevention of Money Laundering Act (PMLA). The companies were not immediately reachable for comment. The ED’s investigation arises from three FIRs filed by the Central Bureau of Investigation (CBI) in 2025 under the Supreme Court’s direction. The CBI found that builders allegedly misled homebuyers and…