New Delhi, Jan 9 (IANS) The ED has filed a charge sheet in a Special Court (PMLA) in Delhi against a real estate company Ocean Seven Buildtech’s promoter for duping applicants under Pradhan Mantri Awas Yojana (PMAY) and laundering over Rs 69 crore collected from those seeking affordable houses in Gurugram, an official said on Friday.

The Enforcement Directorate (ED) filed the Prosecution Complaint (PC) on Friday in Special Court (PMLA), Patiala House Courts, New Delhi, against Swaraj Singh Yadav, Promoter of Ocean Seven Buildtech Pvt Ltd, and associated entities for commission of the offence of money laundering under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

Earlier, the ED attached the company’s assets including a villa, hotel and resort property, office spaces, land parcels and bank balances situated in Gurugram, Himachal Pradesh and Maharashtra.

The investigation further revealed attempts by the accused to liquidate domestic assets and relocates abroad, posing a serious flight risk, leading to issuance of a Look Out Circular. Swaraj Singh Yadav was arrested on November 13 and is presently in judicial custody, the ED said.

The Prosecution Complaint arises from multiple FIRs registered by the Economic Offences Wing, Delhi Police and Haryana Police relating to large-scale cheating, criminal breach of trust, forgery and financial fraud committed against homebuyers and investors in affordable housing projects launched under the Pradhan Mantri Awas Yojana (PMAY) in Gurugram, said an ED statement.

The complaints forming the basis of the FIRs disclose that homebuyers and investors invested their lifetime savings with the aspiration of owning a home under Affordable Housing Scheme, relying upon assurances of lawful allotment and timely delivery, it said.

However, despite substantial funds having been collected for the project, not a single home has been delivered till date, leaving numerous families in prolonged uncertainty and financial distress.

The investigation conducted by the ED under PMLA has revealed a carefully orchestrated scheme wherein funds collected from homebuyers for construction were systematically diverted and siphoned off for personal enrichment including acquisition of movable/immovable properties, said the statement.

Instead of building homes, the money entrusted by hundreds of families was misused, layered through a web of shell entities and converted into luxury assets, the ED said.

Genuine allotments were unlawfully cancelled, and the same residential units were subsequently resold at higher prices, with a portion of the consideration being received in cash over and above the legally permissible price, it said.

Forged and fabricated documents were used to falsely project homebuyers as defaulters and to justify illegal cancellations. Investigation conducted by the ED under PMLA till date has revealed that an organised financial crime was committed resulting in generation of Proceeds of Crime amounting to Rs 69.02 crore, a figure which is likely to increase as the investigation is continuing.

The funds diverted were laundered by routing them through multiple entities, including KTP Infratech Pvt Ltd, and were utilised for acquisition of immovable properties, luxury expenditure and personal investments, the ED said.

During the course of investigation, search and seizure actions were conducted at multiple premises in Delhi and Gurugram on November 13, 2025, resulting in seizure of incriminating documents, digital devices and cash amounting to Rs 86 lakh, the ED said.

Movable and immovable properties having a total value of Rs 51.57 crore were provisionally attached on January 5, 2026 vide Provisional Attachment Order No. 01/2026, the ED said.

–IANS

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