Gurugram: ED searches Ramprastha Group's premises in a money laundering case

By Bricksnwall | 2024-09-05

On September 4, the Enforcement Directorate conducted searches at numerous locations of the real estate company Ramprastha Group in Gurugram. 

The Enforcement Directorate conducted searches at numerous locations of real estate company Ramprastha Group in Gurugram on September 4 as part of a money laundering probe into alleged home buyer fraud, according to government sources.

The ED case arises from a series of FIRs filed by local police against the company by "disgruntled homebuyers for non-fulfillment of the promise of handing over the (housing) projects to them," according to sources.

Ramprastha Rise, Ramprastha City, and Ramprastha SKYZ are all located in Gurugram, Haryana.

PTI made phone calls to the company and received no response.

According to ED sources, some of the group's promoters, including Balwant Chaudhary, Arvind Walia, and Sandeep Yadav, have been brought in for interrogation but have yet to join the inquiry.

The company stated on its website that it owns a big land bank in Gurugram with a combined development potential of more than 80 million square feet.

"We have successfully sold 8000 dwelling units in the region and have a potential to reach near 100,000 dwelling units in the days to come," according to the group.

The ED action in Haryana comes ahead of the assembly elections on October 5.

Source: Hindustan Times