The Enforcement Directorate (ED) has attached assets worth ₹51.57 crore, including a villa, a hotel, a resort, land parcels and cash deposits, in connection with a money laundering probe linked to an alleged homebuyers’ fraud involving Gurugram-based real estate firm Ocean Seven Buildtech Pvt Ltd (OSBPL).

The agency said the company’s promoter and key decision-maker, Swaraj Singh Yadav—who was arrested in November—played a central role in diverting funds collected from homebuyers, leaving affordable housing projects incomplete while proceeds were allegedly siphoned off for personal use and property acquisitions, according to a report by The Hindustan Times.

The attached assets include a villa, a hotel and resort, several office spaces, and multiple land parcels located in Gurugram (Haryana), Himachal Pradesh, and Maharashtra, totalling ₹49.79 crore in value.

The agency also seized ₹1.78 crore in cash and deposits held in bank accounts of Yadav, the real estate company, and related entities.

The total value of these assets is ₹51.57 crore, the agency said.

“The attachment follows a detailed financial investigation which revealed systematic misuse of funds collected from a large number of homebuyers who had invested their savings in affordable housing projects.

“Instead of being utilised for construction and delivery of the promised units, the projects remained incomplete, allotments were cancelled in an arbitrary manner, and the homebuyers were subjected to prolonged uncertainty and financial loss, while the funds entrusted for project development were diverted for purposes unrelated to the housing projects,” the ED alleged.

The money laundering investigation against OSBPL and Yadav stems from FIRs filed by the Delhi and Haryana police on charges that the company duped homebuyers of affordable housing projects through arbitrary cancellations and re-allotments.

The ED told a court, while seeking Yadav’s remand, and in a public statement, that his wife Sunita Swaraj “relocated” to the US in August 2025 and was found residing at Harvard University in Boston, Massachusetts.

The same housing units built by the company were “repeatedly” resold at inflated prices, generating substantial illicit proceeds, it said.

Parking spaces and cancelled units were monetised at rates far above permissible limits, and forged documents were used to justify illegal cancellations, the ED said.

“The diverted funds were further layered and utilised for personal expenses, acquisition of properties and other ventures, reflecting a calculated abuse of trust reposed by homebuyers,” the agency alleged.