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The Supreme Court has transferred a money laundering case against real estate developer Amit Katyal from a special Prevention of Money Laundering Act (PMLA) court in Gurugram to the Special PMLA Court at Saket, Delhi. The case relates to allegations of cheating homebuyers in the Krrish Florence Estate project in Gurugram and the laundering of proceeds of crime linked to the development. While allowing the transfer, the apex court held that both Delhi and Gurugram courts had concurrent jurisdiction, as the alleged concealment of proceeds of crime took place in Delhi while the underlying property transactions and project were located in Gurugram. The Enforcement Directorate (ED) has accused Katyal of fraudulently raising funds from homebuyers, diverting project and bank funds, and illegally disposing of project land during insolvency proceedings.
The Supreme Court on Tuesday transferred a money laundering case against real estate developer Amit Katyal from a special court in Gurugram to the Special Prevention of Money Laundering Act (PMLA) Court at Saket in Delhi. The proceedings relate to allegations of cheating homebuyers in the Krrish Florence Estate residential project in Gurugram and the subsequent laundering of alleged proceeds of crime.
A Bench comprising Chief Justice of India Surya Kant and Justice Joymalya Bagchi passed the order on Katyal's petition seeking the transfer of the proceedings initiated under the Prevention of Money Laundering Act.
The court directed that the prosecution pending before the Special PMLA Court in Gurugram be transferred to the Special PMLA Court at the Saket Court Complex in Delhi. It also ordered that the trial should continue from the stage at which the proceedings currently stand.
In its order, the Bench observed that both Delhi and Gurugram had concurrent jurisdiction over the matter. It noted that while part of the alleged offence under the PMLA related to the concealment of proceeds of crime attached in Delhi, the alleged cheating of homebuyers and acquisition of the proceeds of crime occurred in Gurugram, where the housing project is located.
The court stated that the prosecution initiated in Gurugram could not be faulted because the alleged proceeds of crime were linked to vast tracts of land attached in Gurugram. However, it held that the circumstances of the case justified transferring the proceedings to Delhi.
The Enforcement Directorate (ED) arrested Katyal in November last year in connection with the investigation into alleged financial irregularities involving homebuyers of the Krrish Florence Estate project spread across approximately 14 acres in Sector 70, Gurugram. The project was being developed by Angle Infrastructure Private Limited, a company associated with Katyal.
According to the ED, Katyal allegedly obtained the project licence from another developer through fraudulent means and began collecting money from prospective homebuyers before receiving the required licence from Haryana's Directorate of Town and Country Planning (DTCP). The agency has alleged that these transactions resulted in proceeds of crime amounting to approximately INR 300 crore.
The investigation further alleges that several fraudulent bookings were made in a project originally intended for Central government employees and that project funds were diverted for purposes unrelated to the development, contributing to delays and the eventual stalling of construction.
The ED has also accused Katyal of transferring approximately two acres of licensed project land, valued at around INR 130 crore, to third parties at undervalued prices during insolvency proceedings. According to the agency, the transactions constituted an abuse of the Insolvency and Bankruptcy Code (IBC).
In addition, the agency has alleged that loans obtained from a public sector bank were diverted through fraudulent transactions, resulting in losses of around INR 80 crore for the lender. Separately, the ED filed a prosecution complaint against Katyal in 2025 in another case alleging that homebuyers were defrauded of approximately INR 500 crore through Krrish Realtech, where he is also a promoter.
Source - PTI
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