New Delhi: The Directorate of Enforcement (ED), Headquarters Office, has conducted search operations on April 13 and 14, 2026, at seven premises across Delhi-NCR, Goa, Jaipur, and Mumbai in connection with its ongoing investigation into the 32nd Avenue Group and its promoter-directors, including Anubhav Sharma and Dhruv Sharma, in a case related to alleged investor fraud.
The ED initiated its investigation based on multiple FIRs registered by Delhi Police and Gurugram Police under various sections of the IPC against the accused. The probe revealed involvement in organized and systematic criminal activities, including inducement of investors, non-delivery of property possession, diversion and misappropriation of funds, use of forged documents, non-payment of statutory dues, and laundering of funds through multiple entities.
According to the ED, proceeds of crime exceeding ₹500 crore were generated through these illegal activities. The funds were layered through several accounts linked to shell and benami entities. Investigations further revealed that the accused allegedly sold virtual commercial spaces to multiple investors, later leased the same to offer initial rental returns, and subsequently resold the same spaces by altering project layouts—effectively running a fraudulent Ponzi-like scheme.
During the searches, the ED seized cash amounting to ₹1.05 crore, along with gold bullion and jewellery worth approximately ₹1.5 crore. Various property-related documents, digital devices, and other incriminating materials were also recovered. Additionally, certain bank accounts were frozen and lockers were secured as part of the operation.
The agency has also identified several immovable properties, including land and buildings located in Gurugram, Goa, and Maharashtra, which are suspected to have been acquired through proceeds of crime.
In the course of the investigation, Dhruv Sharma and Shirin Sharma have been arrested by Haryana Police and are currently in judicial custody, while Anubhav Sharma and Mamta Sharma are reported to be absconding.
The ED stated that further investigation in the case is ongoing.
