Gurugram, Sep 5 The Enforcement Directorate (ED), Gurugram zonal office conducted searches at multiple locations of real estate firm Ramprastha Promoters and Developers Pvt. Ltd. & Others in Gurugram in connection with a money laundering investigation linked to alleged cheating with home buyers, official sources said.
The team investigated the multiple FIRs filed by the Haryana police and Economic Offence Wing (EOW) under the provisions of the Prevention of Money Laundering Act (PMLA).
Sources said some promoters of the group like Balwant Chaudhary, Arvind Walia and Sandeep Yadav were served notice under section 16 of PMLA, 2002 by the investigation agency for questioning but they are yet to join the investigation.
It was alleged that the accused persons' entities have induced potential homebuyers into purchasing residential units in their projects located in Gurugram from FY 2006 to FY 2016.
The customers were not offered possession even after many years and the same were yet to be completed. The allegation was of diversion of funds and non – non-completion of projects even after the elapse of years of the due date of completion of projects, namely Ramprastha’s Rise, City, SKYZ and others.
The action has resulted in extracts of various documents, incriminating evidence including digital evidence, books of accounts etc. useful in the ongoing investigation of the offence of money laundering against the accused persons and entities.
"More than 1,000 customers of different projects who have invested more than Rs 500 Crore have been identified who have not been handed over their bookings even having made full payments more than 04-05 years ago. Further investigation is under progress," sources said.
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