Advertisement
Private equity has played a significant role in shaping Indi...
In today’s real estate landscape, fitness is often treated...
In this episode of Prop Personalities, we sit down with Hars...
Luxury real estate is one of the most talked-about segments ...
Welcome to Prop Personalities by Prop News Time - a podcast ...
• The Enforcement Directorate has filed a prosecution complaint against TDI Infrastructure Ltd and its directors in a money laundering case linked to delayed real estate projects in Haryana.
• The investigation is based on multiple FIRs filed by Delhi Police and the Economic Offences Wing following complaints from homebuyers.
• The agency alleged that the company collected around INR 4,619.43 crore from over 14,000 buyers across several residential and commercial projects launched between 2005 and 2014.
• According to the ED, funds collected from buyers were diverted to group entities and other purposes instead of project construction, leading to major delays in possession and incomplete developments.
The Enforcement Directorate has filed a prosecution complaint under the Prevention of Money Laundering Act against TDI Infrastructure Ltd and its directors Ravinder Taneja, Kamal Taneja and D N Taneja in connection with an alleged homebuyer fraud and project delay case in Haryana. Advertisement
The complaint was recently submitted before a special PMLA court at Patiala House in New Delhi, which has taken cognisance of the matter and issued notices to the accused. The case is linked to multiple FIRs and charge sheets registered by Delhi Police and its Economic Offences Wing against the company, its promoters and senior management.
According to the ED investigation, TDI Infrastructure launched several residential and commercial projects in Kundli, Sonipat and nearby areas between 2005 and 2014. During this period, the company allegedly collected nearly INR 4,619.43 crore from more than 14,100 homebuyers and investors across multiple projects.
The agency stated that several projects remained incomplete despite long delays, while occupation certificates for some developments are still pending. One of the projects mentioned in the investigation is Park Street, which is yet to be completed. Buyers allegedly continued waiting for possession even after delays extending up to 16 to 18 years in certain projects.
The ED further alleged that funds collected from customers were diverted to subsidiaries, associated concerns and land-owning entities instead of being used for construction and project completion. Investigators also claimed that part of the money was used for repayment of loans and other investments unrelated to the projects for which the funds were originally collected.
The agency said the alleged diversion of funds affected construction progress and delayed delivery timelines for thousands of buyers. The investigation also examined financial transactions and movement of funds across different entities connected to the group.
As part of the probe, the ED had earlier attached immovable properties worth over INR 206 crore linked to the company and its related entities in Sonipat, Haryana. These included around 8.3 acres of land and commercial units located in Kamaspur. In an earlier attachment in the same matter, assets worth more than INR 45 crore had also been attached.
With the latest attachments, the total value of assets attached by the agency in the case has crossed INR 349 crore.
This is not the first enforcement action involving the company. Earlier, the ED had also attached commercial shops in TDI Mall, Kundli, in another money laundering investigation related to alleged environmental violations connected to township projects.
The case is among several investigations involving stalled and delayed housing developments in the Delhi-NCR region, where agencies have been examining complaints related to diversion of funds, pending possession and incomplete construction in older projects launched during the mid-2000s real estate expansion phase.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
