The Enforcement Directorate (ED) has intensified its probe into Raheja Developers by conducting searches at seven locations in Delhi-NCR. The raids are part of a money laundering investigation connected to allegations of cheating homebuyers and siphoning off funds.
Details of the Searches
The ED teams searched offices and residential premises of the developers across Delhi, Gurugram, and Noida. Officials said the operation was launched based on evidence of fund diversion and irregularities in project execution.
Allegations Against Raheja Developers
The company faces multiple complaints from homebuyers who claim they were duped in various residential projects. The ED’s action follows a preliminary inquiry that revealed suspicious transactions and misuse of buyer payments.
ED’s Statement
The agency stated that the searches were conducted under the Prevention of Money Laundering Act (PMLA). Documents and digital records were seized for further analysis. The investigation aims to trace the flow of funds and identify beneficiaries.
Impact on Projects
Several projects by Raheja Developers have been stalled or delayed, leaving hundreds of buyers in limbo. The ED’s move is expected to put pressure on the company to resolve pending issues and refund affected customers.
This is not the first time the developer has come under scrutiny. Previously, the National Company Law Tribunal (NCLT) had admitted insolvency petitions against the firm. The ED’s latest action adds to the legal troubles for Raheja Developers.
