New Delhi: The Directorate of Enforcement (ED), Delhi Zonal Office, has provisionally attached assets worth ₹1,113.81 crore in connection with a major fund diversion case involving Raheja Developers Ltd. The action has been taken under the Prevention of Money Laundering Act (PMLA), 2002.
The attached assets include immovable properties belonging to N.A. Buildwell Pvt. Ltd. and Riyasat Palaces Ltd.—entities linked to Raheja Developers—as well as properties owned by Director Navin M. Raheja and his family members.
The investigation stems from multiple FIRs registered by the Economic Offences Wing (EOW) based on complaints filed by thousands of homebuyers who were allegedly defrauded.
According to ED findings, Raheja Developers collected approximately ₹2,425.99 crore from around 4,600 homebuyers for various housing projects under the pretext of delivering residential units. However, a significant portion of these funds was allegedly siphoned off and diverted through a complex network of related entities and shell companies.
The diverted funds were reportedly routed to entities controlled by the Director, his family members, and close associates, and were used for purposes unrelated to the projects, including acquisition of assets and personal expenditures.
During search operations conducted on June 27, 2025, and April 25, 2026, ED recovered incriminating documents, digital evidence, jewellery, bullion worth approximately ₹15.82 crore, and foreign currency amounting to around ₹15 lakh.
The agency stated that the attachment aims to secure assets and ensure recovery for affected homebuyers and financial stakeholders. Further investigation in the case is ongoing.
