INDIATOP STORIES

ED attaches assets worth Rs 136.42 crore in Ocean Seven Buildtech case

New Delhi, Oct 14 (IANS) The Enforcement Directorate (ED) has provisionally attached immovable and movable properties worth Rs 136.42 crore in a money laundering case against Ocean Seven Buildtech Private Limited (OSBPL) and its promoters, the agency said in a statement on Wednesday.

The Headquarters Investigation Unit-II of the ED in New Delhi attached assets valued at Rs 1,36,41,74,559 under the Prevention of Money Laundering Act, 2002 (PMLA). These include land parcels at Village Bilonchi in Jaipur district and at Kotputli-Behror in Rajasthan, a residential plot in Sector-102, Gurugram, and balances in five bank accounts held by the company, its promoter Swaraj Singh Yadav and his wife Sunita Swaraj.

The movable assets comprise bank balances of Rs 69.06 lakh. With this attachment, the total value of assets attached in the case has risen to approximately Rs 188 crore.

The ED investigation was initiated on the basis of FIRs registered by the Economic Offences Wing of Delhi Police, Haryana Police and Rajasthan Police against OSBPL, Swaraj Singh Yadav and others. The FIRs allege cheating, criminal breach of trust, forgery and criminal conspiracy in relation to the company’s real estate projects.

The present attachment arises principally from an FIR dated December 7, 2025, registered at police station Daulatpura (Jaipur-Ajmer Highway), District Jaipur (West), and another FIR dated November 23, 2025, registered at police station Paniyala, District Kotputli-Behror.

Earlier, the ED had attached assets worth Rs 51.57 crore through a provisional attachment order dated January 5, 2026, and had filed a prosecution complaint on January 9, 2026, before the Special Court (PMLA) at Patiala House Court, New Delhi. According to the ED, OSBPL collected more than Rs 118 crore from plot buyers in its four Rajasthan projects — Amber Garden at Village Bilonchi, Jaipur and Kot Residency, Kot Farms and Kot Industrial Estate at Kotputli-Behror — between December 2006 and March 2015.

The money was collected on the representation that the projects would be developed and possession of the allotted plots handed over within three to four years.

In the case of Amber Garden, collections began in December 2006, years before the project map was even applied for with the Jaipur Development Authority. Site inspections by the Jaipur Development Authority and revenue authorities revealed that the projects were never developed and the sites remain substantially vacant.

Buyers who had paid the entire consideration, and in several cases obtained registered conveyance deeds and possession letters, were never given possession and their plots were never demarcated. Instead of being utilised for the development of the projects, the funds were diverted for unrelated purposes, including the purchase of office premises for the company in Gurugram and advances towards other projects.

Investigation further revealed that after the registration of the FIRs, approximately 39 acres of land owned by the accused company and its promoters were alienated between June and September 2025 in favour of close associates or third-party entities. These properties have also been attached under the provisional attachment order. Further investigation is in progress.

–IANS

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