ED Searches Ramprastha in Gurugram for Money Laundering
The Enforcement Directorate (ED) conducted searches at several locations of the Ramprastha Group, a real estate company, in Gurugram as part of a money laundering investigation. This probe is linked to allegations of cheating homebuyers, according to official sources. The investigation is based on multiple FIRs filed by local police, which were initiated by dissatisfied homebuyers who claim the company failed to deliver promised housing projects. These projects include Ramprastha Rise, Ramprastha City, and Ramprastha SKYZ, all located in Gurugram, Haryana.
Attempts to reach the company for comments were unsuccessful, as phone calls made by PTI went unanswered. ED sources revealed that some of the group’s promoters, such as Balwant Chaudhary, Arvind Walia, and Sandeep Yadav, have been summoned for questioning but have not yet participated in the investigation. The ED searches Ramprastha operation highlights these ongoing legal challenges.
On its website, Ramprastha Group claims to possess a significant land bank in Gurugram with a development potential exceeding 80 million square feet. The company states that it has successfully sold 8,000 housing units in the region and aims to reach nearly 100,000 units in the future. The ED’s actions in Haryana occur just before the assembly polls scheduled for October 5.
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