The Enforcement Directorate (ED) has provisionally attached assets worth ₹255.28 crore belonging to Ramprastha Promoters & Developers Pvt. Ltd. (RPDPL) in a money laundering case, taking the total attachments in the probe to ₹827.49 crore.

The action follows the arrest of the company’s two promoters earlier this year for allegedly defrauding over 2,600 homebuyers of about ₹1,100 crore through delayed and undelivered housing projects in Gurugram.

The provisionally attached properties comprise various plots, lands, residential flats, and commercial buildings of M/s RPDPL, its group companies and directors, relatives of directors, and key managerial persons.

The ED initiated an investigation based on multiple FIRs registered by the Economic Offences Wing (EOW), New Delhi, and the Haryana police. It was alleged in the FIRs that M/s RPDPL and its promoters cheated and defrauded various home buyers and plot buyers by failing to deliver the promised flats and plots within the promised timeframes, even after a lapse of more than 10-14 years.

The ED investigation revealed that M/s RPDPL launched various projects such as Project Edge, Project Skyz, Project Rise, and Ramprastha City (plotted colony project) situated at Sectors 37D, 92, 93, and 95, Gurugram, in 2008-2011, and possession of flats and plotted lands was promised within 3-4 years of launch. Consequently, the ED arrested Arvind Walia and Sanjeev Yadav, the two director promoters, on July 23 this year. They are currently lodged in judicial custody.

The ED investigation revealed that M/s RPDPL had collected approximately Rs 1,100 crore from more than 2,600 homebuyers for the said projects. The promoters and directors diverted funds amounting to hundreds of crores collected from homebuyers to its group companies as advances for the purchase of land parcels, instead of using the same for the completion of promised homes, which ultimately led to the failure to deliver the flats and plots to date.

Moreover, the ED conducted search operations and issued a provisional attachment order resulting in the attachment and freezing of various bank accounts, movable assets, and immovable properties of M/s RPDPL, its group companies,  and directors, and relatives of directors amounting to Rs 572.21 crore. The total attachment and seizure in this case to date stands at Rs 827.49 crore. Further investigation is in progress.