New Delhi, May 9 In a case related to cheating and defrauding of homebuyers, a Special PMLA Court in Delhi has issued notices to TDI Infrastructure Ltd., its Directors- Ravinder Taneja, Kamal Taneja and D.N. Taneja and related entities, an ED official said on Saturday.
The Special PMLA Judge, Patiala House District Court, issued the notices on April 28 to all the accused in a Prosecution Complaint filed by the Directorate of Enforcement (ED), Gurugram Zonal Office.
The ED initiated an investigation based on multiple FIRs registered/chargesheets filed by the Delhi Police. As per the FIRs/chargesheets, TDI Infrastructure and its promoters cheated and defrauded numerous homebuyers by failing to deliver the promised flats and units within the stipulated time, and, in some cases, even after a delay of 16-18 years in one of its projects.
The ED investigation revealed that TDI Infrastructure had launched several commercial/ residential plots/ housing projects in Kundali, Sonipat, Haryana. It had collected Rs 4,619.43 crore as advance booking amounts from 14,105 customers across 26 projects in Sonipat.
The ED said that these projects were launched from 2005 to 2014; however, Occupation Certificates for four projects are still pending, while one of its projects - "Park Street"- remains incomplete.
The ED investigation further revealed that, instead of utilising the customer funds for the completion of target residential/housing projects, its promoters/directors diverted a substantial quantum of such funds to its subsidiaries/erstwhile subsidiaries under the head' advances for purchase of land parcels and other purposes'.
The accused company had also diverted and used said customer funds to repay its loans and also to make investments, the ED said in a statement.
This diversion of funds ultimately delayed the construction of the company's target projects, thereby preventing customers from receiving timely possession of their units/plots, it said.
Recently, the ED provisionally attached assets/properties valued at Rs 304.06 crore belonging to the accused company and its related entities under the PMLA, the statement said.
Earlier in 2024, the ED had attached its assets/properties valued at Rs 45.49 crore, thereby attaching total "Proceeds of Crime" to the tune of Rs 349.55 crore, identified and quantified in the case, the official statement said.
These Proceeds of Crime have also been prayed for confiscation under PMLA, 2002, in the said Prosecution Complaint filed by the ED, it said.
--IANS
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