Overview

• The ED arrested Sandeep Yadav and Arvind Walia on July 21 following search operations at three Delhi and Gurugram locations under the Prevention of Money Laundering Act.
• Ramprastha Promoters & Developers Pvt. Ltd. is accused of collecting roughly ₹1,100 crore from over 2,000 homebuyers for projects including Project Edge, Project Skyz, Project Rise and Ramprastha City without delivering possession.
• On July 11, the agency provisionally attached immovable assets worth ₹681.54 crore, covering 226 acres of plotted colonies and 1,700 acres of land parcels in Gurugram.
• Investigators allege that the promoters diverted homebuyer funds to group entities as advances for land purchases rather than completing the promised housing developments.
• The probe originated from FIRs filed by the Economic Offences Wings of Delhi and Haryana police, and investigators are working to identify other beneficiaries in the alleged scam.