Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
• The Enforcement Directorate (ED) has sought police protection for homebuyers and witnesses linked to the money laundering probe against Gurugram-based Ocean Seven Buildtech Pvt Ltd and promoter Swaraj Singh Yadav.
• Several buyers told a Delhi court that they were facing threats, intimidation and pressure for cooperating with the investigation.
• The ED has written to police authorities in Delhi, Haryana and Rajasthan after the court directed interim protection for complainants and witnesses.
• The case is linked to alleged irregularities in affordable housing projects, including arbitrary cancellations, re-allotments and diversion of homebuyer funds.
• Haryana’s DTCP has also been informed about alleged financial misappropriation and fund diversion by the company.
The Enforcement Directorate has approached police authorities in Delhi, Haryana and Rajasthan seeking protection for homebuyers and witnesses connected to its money laundering investigation against Gurugram-based Ocean Seven Buildtech Pvt Ltd and its promoter Swaraj Singh Yadav. Advertisement
The move came after several homebuyers informed a Delhi court that they were allegedly facing threats and intimidation for cooperating with the investigation. The issue surfaced during the hearing of Yadav’s regular bail plea, where victims claimed they were being pressured to withdraw or change their statements submitted before the ED.
According to submissions made before the court, some complainants alleged that unidentified individuals recorded videos of buyers outside the courtroom. A few buyers, including a senior citizen and an Army officer, also claimed they had received threats linked to the accused. Certain victims further alleged that false FIRs had been registered against them in Rajasthan.
The ED informed the court that nearly 10 complaints had been received from homebuyers and witnesses alleging intimidation attempts. The agency’s investigating officer stated that prosecution witnesses were allegedly receiving calls asking them not to support the investigation.
After hearing the matter, the court observed that the concerns raised by victims regarding their safety appeared genuine. It directed the Deputy Commissioner of Police in New Delhi to provide interim protection to complainants and witnesses till formal witness protection measures are implemented. The matter is scheduled for further hearing on May 23.
Following the court’s directions, the ED sent communications to Delhi Police with details of the affected homebuyers and witnesses. Similar letters were also issued to the Gurugram Police Commissioner and Haryana’s Economic Offences Wing, which is handling the predicate offence in the case. Rajasthan Police authorities were also informed regarding allegations of false complaints being filed against victims.
The money laundering investigation against Ocean Seven Buildtech began last year after allegations emerged over irregularities in affordable housing projects in Gurugram. The ED had arrested promoter Swaraj Singh Yadav in connection with the case and accused him of diverting homebuyer funds collected for project development.
Investigators have alleged that buyers were affected through arbitrary cancellations and re-allotments of housing units. Earlier findings shared by the agency also claimed that a significant amount collected from homebuyers was allegedly diverted for purposes unrelated to project construction and delivery.
The ED had previously informed that around INR 205 crore of homebuyer funds were allegedly diverted by the company, including investments linked to overseas assets such as a hotel property in Colombo. The agency has also shared details of the alleged financial irregularities with Haryana’s Directorate of Town and Country Planning (DTCP) for possible regulatory action.
The case has added to concerns around stalled and delayed housing projects in Gurugram and the wider NCR market, where several investigations in recent years have focused on alleged misuse of homebuyer funds, delayed possession and financial mismanagement by developers. Authorities have increased scrutiny of affordable housing projects following repeated complaints from buyers regarding project delays and fund diversion.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
