ED Raids Raheja Developers: Homebuyer Fraud Case
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Enforcement Directorate raids Raheja Developers in Delhi-NCR & Mohali over alleged fraud with homebuyers. Incriminating documents and asset details seized.
Photograph: Courtesy Omkar Realtors.
New Delhi, Jul 1 (PTI) The Enforcement Directorate said on Tuesday it has seized "incriminating" documents and details of assets following searches against real estate company Raheja Developers Ltd. and its directors in a money laundering case linked to alleged fraud with homebuyers.
The raids were undertaken on June 27 in Delhi-NCR and Mohali in Punjab.
The money laundering case of the Enforcement Directorate (ED) stems from multiple FIRs registered by the Economic Offences Wing (EOW) of the Delhi Police against Raheja Developers Ltd, its Managing Director Naveen Raheja and others, the federal agency said in a statement.
The FIRs allege that "substantial" sums were fraudulently collected from investors and homebuyers by Raheja Developers Ltd on the promise of delivering residential flats in various group housing projects but failed to hand over the promised flats, according to the ED.
The company could not be contacted for a response on the ED charges made against it.
During the searches, several incriminating documents, digital devices and details of movable and immovable properties were seized, it said.
The raids were undertaken on June 27 in Delhi-NCR and Mohali in Punjab.
The money laundering case of the Enforcement Directorate (ED) stems from multiple FIRs registered by the Economic Offences Wing (EOW) of the Delhi Police against Raheja Developers Ltd, its Managing Director Naveen Raheja and others, the federal agency said in a statement.
The FIRs allege that "substantial" sums were fraudulently collected from investors and homebuyers by Raheja Developers Ltd on the promise of delivering residential flats in various group housing projects but failed to hand over the promised flats, according to the ED.
The company could not be contacted for a response on the ED charges made against it.
During the searches, several incriminating documents, digital devices and details of movable and immovable properties were seized, it said.
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