The Enforcement Directorate conducted searches at several locations of real estate firm Ramprastha Group in Gurugram on Wednesday as part of a money laundering probe linked to alleged cheating of home buyers, official sources said.
The ED case stems from a series of FIRs filed by the local police against the company by “unhappy homebuyers over non-fulfillment of promise to deliver (housing) projects to them,” the sources said.
The projects include Ramprastha Rise, Ramprastha City and Ramprastha SKYZ located in Gurugram, Haryana.
There was no response to calls made by PTI to the company.
ED sources said some promoters of the group like Balwant Chaudhary, Arvind Walia and Sandeep Yadav have been called for questioning but are yet to join the probe.
The company said on its website that it owns a large land bank in Gurugram with a combined development potential of over 80 million square feet.
“We have successfully sold 8,000 housing units in the region and have the potential to reach nearly 100,000 housing units in the coming days,” the company said.
The ED action in Haryana comes ahead of voting in the assembly elections on October 5.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 6, 2024 | 00:03 IS
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