ED files money-laundering complaint against Raheja Developers over homebuyers' funds
The ED has filed a prosecution complaint against Raheja Developers and 20 others, alleging Rs 1,353.26 crore of homebuyers' money was diverted from projects in Delhi and Gurugram.
Key points
- The ED filed a prosecution complaint under the PMLA against Raheja Developers Ltd and 20 others before a Special Court at Saket, New Delhi, on 6 November 2026.
- The ED alleges Rs 1,353.26 crore of the Rs 2,699.13 crore collected from about 4,600 buyers is proceeds of crime.
- The ED has attached properties with a book value of Rs 810.57 crore and is seeking their confiscation; the charges will be tested at trial.
The Enforcement Directorate (ED) on 6 November 2026 filed a prosecution complaint under the Prevention of Money Laundering Act (PMLA) against Raheja Developers Ltd (RDL), its promoters and 19 other persons and entities before the Special Court (PMLA) at Saket Courts, New Delhi. The ED alleges that Rs 1,353.26 crore of homebuyers' money was laundered.
What Happened
The ED's case rests on several FIRs registered by the Economic Offences Wing of the Delhi Police and the Gurugram Police on complaints of homebuyers who paid for flats and commercial units in projects such as Raheja Revanta, Atlantis, Navin Minar and The Delhi Mall but received neither possession nor a refund.
According to the ED, RDL collected about Rs 2,699.13 crore from about 4,600 homebuyers and investors in Delhi and Gurugram on the promise of timely delivery. The ED alleges that Rs 1,353.26 crore of this is proceeds of crime: Rs 1,175.86 crore taken out of project, escrow and RERA accounts for purposes other than construction, and Rs 177.40 crore collected in cash outside registered agreements. It alleges the money was diverted to group companies and to companies run through employees and their relatives, used to buy land, and moved from one project's RERA account to another. Most projects remain incomplete, the ED said.
The ED has provisionally attached properties with a book value of Rs 810.57 crore and a current market value of Rs 2,399.65 crore. It said the managing director and three family members did not join the investigation or answer summonses, and that it has sought non-bailable warrants against them. The complaint names 21 accused and seeks confiscation of the attached properties.
These are allegations, not findings of guilt; the accused are presumed innocent until proven guilty in court, and due process continues.
What It Means
A prosecution complaint is the PMLA's equivalent of a chargesheet: the Special Court will now decide whether to take it up for trial. The attached properties cannot be sold while the case proceeds, and the ED wants them confiscated.
The release does not say how homebuyers will be repaid. Buyers in the group's projects can pursue refund or possession claims before the RERA authority of their state or through consumer commissions, using the National Consumer Helpline (1915) or e-Daakhil.
This report describes enforcement actions and allegations on the public record, attributed to the officials cited. An order, FIR or chargesheet is not a conviction; parties are presumed innocent until proven guilty.
Named in this report, or spotted an error? Corrections and responses: editor@oquilia.com. We correct errors promptly and record responses from named parties.
Sources & Citations
- Enforcement Directorate press release — Enforcement Directorate