Gurugram, July 23
The Enforcement Directorate (ED) has arrested Arvind Walia and Sandeep Yadav, Directors and majority shareholders of M/s Ramprastha Promoters & Developers Pvt Ltd (RPDPL), in connection with a massive real estate scam involving the cheating of over 2,000 homebuyers.
The arrest was made on July 21 under the Prevention of Money Laundering Act (PMLA), 2002, a statement from the probe agency said on Wednesday.
The accused were produced before the Additional Sessions Judge in Gurugram, who granted ED custody till July 25.
The ED also carried out search operations at three locations in Delhi and Gurugram. These actions follow multiple FIRs filed by the Economic Offences Wing (EOW) of Delhi Police and Haryana Police, alleging that the promoters of RPDPL failed to deliver flats and plots for over 14 years despite collecting nearly Rs 1,100 crore from homebuyers.
According to the ED, RPDPL launched several real estate projects between 2008 and 2011, including Project Edge, Project Skyz, Project Rise, and Ramprastha City across sectors 37D, 92, and 95 in Gurugram. Possession was promised within 3-4 years but remains undelivered even after more than a decade.