India News | ED Attaches Assets Worth Rs 782.36 Crore of Raheja Developers
Get latest articles and stories on India at LatestLY. The Enforcement Directorate (ED) on Friday said it has attached Rs 782.36 crore worth of properties belonging to Raheja Developers Ltd, accused of collecting funds amounting to Rs 2,425.99 crore from around 4,600 homebuyers on the pretext of providing them residential units.
New Delhi [India], July 31 (ANI): The Enforcement Directorate (ED) on Friday said it has attached Rs 782.36 crore worth of properties belonging to Raheja Developers Ltd, accused of collecting funds amounting to Rs 2,425.99 crore from around 4,600 homebuyers on the pretext of providing them residential units.
The federal agency is conducting an investigation against Raheja Developers Ltd, its Director Navin M Raheja, and other associated persons.
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The case, ED said, relates to multiple FIRs registered by the Economic Offences Wing (EOW) on the basis of complaints filed by numerous homebuyers who were allegedly defrauded.
ED's Delhi zonal office attached the properties under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
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During the course of investigation, the agency further said, it has been revealed that "Raheja Developers Ltd collected funds amounting to approximately Rs 2,425.99 crore from around 4,600 homebuyers in connection with various real estate projects launched under the pretext of providing residential units."
Earlier, properties having an estimated market value of Rs 1,113.81 crore were attached vide PAO dated April 28 this year, followed by the attachment of properties valued at Rs 503.48 crore vide PAO dated June 15, 2026.
With the present provisional attachment, the cumulative estimated market value of the properties attached in the instant case stands at approximately Rs 2,399.65 crore. (ANI)
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