Enforcement Directorate (ED), Gurugram Zonal Office, has conducted search operations in Faridabad, Palwal and Bhiwadi against a private company in a real estate fraud case. ED initiated the investigation based on multiple FIRs registered by various investigating agencies, including the Economic Offences Wing and the Central Bureau of Investigation.

The agency said that promoters induced investors and homebuyers to invest in various projects by offering assured returns and timely possession. However, despite collecting substantial booking amounts, the projects remained largely incomplete, possession was not delivered even after prolonged delays, and refunds were not made. The ED said that the investigation revealed that the company involved in the case is currently undergoing insolvency proceedings on the incomplete projects in the investigated location. It added that the search action has resulted in seizure of incriminating material in the form of deeds, books of accounts and digital devices along with cash, jewellery and Bank Balances amounting to over five crore rupees.