ED Attachments: Ramprastha's 1,900 Acres in Fraud Case

The Enforcement Directorate has attached properties belonging to the Ramprastha real estate group in Gurugram, valued at over Rs 680 crore, due to alleged fraud with homebuyers. The case originated from police complaints and ongoing investigations into fund misappropriation by Ramprastha's promoters and directors.

The Enforcement Directorate (ED) has taken decisive action against the Ramprastha real estate group by attaching its properties in Gurugram. Spanning more than 1,900 acres and valued at over Rs 680 crore, these assets are tied to an alleged fraud case affecting homebuyers.

In a statement, the ED announced the issuance of a provisional order under the Prevention of Money Laundering Act. This order targets Ramprastha Promoters and Developers Pvt Ltd (RDDPL) and its associated entities, highlighting the scale of the inquiry.

The case follows numerous complaints by homebuyers, leading to multiple FIRs by the Economic Offences Wing of the Delhi and Haryana Police. The investigations revealed that funds collected for various projects were misdirected, delaying the delivery of homes by over a decade.

(With inputs from agencies.)