New Delhi, May 9 (IANS) In a case related to cheating and defrauding of homebuyers, a Special PMLA Court in Delhi has issued notices to TDI Infrastructure Ltd., its Directors- Ravinder Taneja, Kamal Taneja and D.N. Taneja and related entities, an ED official said on Saturday.​

The Special PMLA Judge, Patiala House District Court, issued the notices on April 28 to all the accused in a Prosecution Complaint filed by the Directorate of Enforcement (ED), Gurugram Zonal Office.​

The ED initiated an investigation based on multiple FIRs registered/chargesheets filed by the Delhi Police. As per the FIRs/chargesheets, TDI Infrastructure and its promoters cheated and defrauded numerous homebuyers by failing to deliver the promised flats and units within the stipulated time, and, in some cases, even after a delay of 16-18 years in one of its projects.​

The ED investigation revealed that TDI Infrastructure had launched several commercial/ residential plots/ housing projects in Kundali, Sonipat, Haryana. It had collected Rs 4,619.43 crore as advance booking amounts from 14,105 customers across 26 projects in Sonipat.​

The ED said that these projects were launched from 2005 to 2014; however, Occupation Certificates for four projects are still pending, while one of its projects – “Park Street”- remains incomplete.​

The ED investigation further revealed that, instead of utilising the customer funds for the completion of target residential/housing projects, its promoters/directors diverted a substantial quantum of such funds to its subsidiaries/erstwhile subsidiaries under the head’ advances for purchase of land parcels and other purposes’.​

The accused company had also diverted and used said customer funds to repay its loans and also to make investments, the ED said in a statement.​

This diversion of funds ultimately delayed the construction of the company’s target projects, thereby preventing customers from receiving timely possession of their units/plots, it said.​

Recently, the ED provisionally attached assets/properties valued at Rs 304.06 crore belonging to the accused company and its related entities under the PMLA, the statement said.​

Earlier in 2024, the ED had attached its assets/properties valued at Rs 45.49 crore, thereby attaching total “Proceeds of Crime” to the tune of Rs 349.55 crore, identified and quantified in the case, the official statement said.​

These Proceeds of Crime have also been prayed for confiscation under PMLA, 2002, in the said Prosecution Complaint filed by the ED, it said.​

–IANS

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