THE Enforcement Directorate on Monday arrested Sandeep Yadav and Arvind Walia, promoters of Haryana-based realty company Ramprastha Group, as part of a money laundering investigation linked to an alleged Rs 1,100 crore fraud with homebuyers, official sources said. The arrests came after the Gurugram zonal office of the federal probe agency raided three premises in Delhi and Gurugram, including those of the directors, early morning. The two are directors and majority shareholders in Ramprastha Promoters and Developers Pvt Ltd (RPDPL), according to the sources. They have been taken into custody under the Prevention of Money Laundering Act (PMLA), they said. The company or its promoters could not be contacted for a comment on the ED action against them.

 

The agency had conducted a survey against the group in September 2024. It is alleged that the RPDPL collected about Rs 1,100 crore from more than 2,000 homebuyers for various housing schemes like Project Edge, Project Skyz, Project Rise and Ramprastha City (plotted colony project) in various sectors of Gurugram during 2008-11. The possession of the flats or plots is yet to be given, even after 15-20 years, the sources said. Earlier this month, the agency had attached colonies and plots spread across more than 1,900 acres and worth over Rs 681.54 crore of the group in Gurugram as part of this investigation. The money laundering case stems from multiple FIRs filed by the Economic Offences Wing (EOW) of the Delhi and Haryana Police based on complaints of numerous homebuyers.