New Delhi, June 28 (IANS) The Enforcement Directorate (ED) on Saturday provisionally attached assets worth approximately Rs 557.43 crore in a major crackdown on a real estate scam involving Mahira Group companies.

The action, taken under the Prevention of Money Laundering Act (PMLA), includes 35 acres of residential and commercial land across key sectors in Gurugram and fixed deposits of around Rs 97 lakh.

The case pertains to Mahira Infratech Pvt Ltd (formerly Sai Aaina Farms Pvt Ltd), Mahira Buildtech Pvt Ltd, and Czar Buildwell Pvt Ltd. The ED began its probe based on multiple FIRs lodged by the Gurugram Police for cheating and forgery. These companies allegedly submitted forged documents, including fake bank guarantees, to obtain licences for affordable housing projects in Sectors 68, 103, and 104 of Gurugram.

More than Rs 616 crore was collected from 3,700 homebuyers for these projects, which the company failed to deliver. Instead, funds were misappropriated, with money siphoned off using inflated construction costs and bogus invoices from associated entities.

According to investigation, it was revealed that the diverted funds were routed to other group firms as long-pending loans and for personal gains by the company’s directors and promoters.

“ED investigation revealed that the company siphoned off the funds by inflating construction costs through fake invoices from associated entities. The money was diverted for personal gains by the company’s Directors and Promoters”, the ED said in its Press statement.

“Furthermore, funds from home buyers were also transferred to other group entities as loans, which remain outstanding for years”, it added.

Earlier attachments in the case on February 15, 2024, and March 26, 2025, were valued at Rs 81.07 crore.

Prominent individuals including Sikandar Singh (promoter of Mahira Group), ex-MLA Dharam Singh Chhoker, and Vikas Chhoker are under the scanner. Singh was arrested in April 2024, while Chhoker, who had been evading arrest despite six Non-Bailable Warrants, was nabbed in May this year.

Vikas Chhoker remains absconding, and a proclamation has been issued against him by the Special Court, Gurugram, where the case is currently under trial.

The ED has filed a prosecution complaint, and the court has taken cognisance. The investigation is ongoing, with more developments expected as authorities dig deeper into the scam that has left thousands of homebuyers in limbo.

–IANS

sas/rad