Tag: Swaraj Singh Yadav

Latest StoriesRegulatory

Gurugram: ED Seizes ₹50 Crore in Assets from Ocean Seven Buildtech

Representative image NEW DELHI: The Enforcement Directorate (ED) has seized a villa, a hotel, a resort, along with several land parcels and deposits exceeding Rs 50 crore as part of a money laundering investigation concerning a fraud involving homebuyers tied to Gurugram’s Ocean Seven Buildtech Pvt Ltd (OSBPL). The ED’s statement indicated that Swaraj Singh Yadav, the company’s promoter, was instrumental in orchestrating this fraudulent scheme by misappropriating funds gathered from homebuyers intended for housing construction. Yadav was arrested in November as part of the ongoing investigation. The assets seized include a villa, hotel, resort, multiple office spaces, and several…

Latest StoriesRegulatory

Delhi Court Sends Ocean Seven Chief to 14-Day ED Custody in PMAY Scam

NEW DELHI: On Friday, a Delhi court granted the Enforcement Directorate (ED) a 14-day custody of Swaraj Singh Yadav, the director of Ocean Seven Buildtech Pvt Ltd (OSBPL) in Gurugram, over an alleged money-laundering case. Yadav was presented before Additional Sessions Judge Shefali Barnala Tandon around 2:25 am following his arrest related to money laundering tied to the Pradhan Mantri Awas Yojana (PMAY), a flagship initiative by the Union government. The agency explained that Yadav was brought to the judge’s residence at this unusual hour due to constitutional mandates requiring arrestees to be produced within 24 hours. Launched on June…

Latest StoriesRegulatory

FIR Against Ocean Seven Buildtech for ₹217 Crore Housing Scam

GURUGRAM: The Economic Offences Wing (EOW) of Delhi Police has initiated an FIR against Ocean Seven Buildtech Pvt. Ltd. (OSB) and its Managing Director Swaraj Singh Yadav for allegedly deceiving homebuyers and misappropriating funds from the Expressway Towers project in the region. Launched in December 2016 under the Pradhan Mantri Awas Yojana (Urban), the project has yet to be completed, despite receiving over ₹217 crore, which amounts to over 95% of the buyer payments. The project, which includes 1,089 flats (1BHK and 2BHK) situated across 7.5 acres, had promised possession by 2022. The FIR, lodged on October 15, resulted from…