New Delhi, Jan 9 (PTI) The Enforcement Directorate on Friday filed a chargesheet against a promoter of Gurugram-based realty firm and some others as part of a money laundering probe into an alleged fraud with homebuyers under the Pradhan Mantri Awas Yojana (PMAY).
The prosecution complaint was filed before a special Prevention of Money Laundering Act (PMLA) court at Patiala House courts. The chargesheet has been filed under various sections of the anti-money laundering law, and Swaraj Singh Yadav, promoter of Ocean Seven Buildtech Pvt Ltd (OSBPL), and his linked entities have been named as accused, the agency said in a statement.
Earlier this week, the ED had attached a villa, a hotel, and a resort, besides land parcels and deposits worth over Rs 50 crore of Swaraj and his associated entities.
Calling Yadav a “key” decision-maker of the realty company, the ED said he played a “central role” in orchestrating the “fraudulent” scheme and deliberately diverted funds collected from homebuyers for the construction of affordable houses under the Pradhan Mantri Awas Yojana (PMAY) in Gurugram.
Yadav was arrested by the central probe agency in November as part of the investigation and is currently lodged in jail under judicial custody.
The ED had said it conducted a “detailed financial investigation which revealed systematic misuse of funds collected from a large number of homebuyers who had invested their savings in affordable housing projects.” Instead of being utilised for the construction and delivery of the promised units, it said, the projects remained incomplete, allotments were cancelled in an “arbitrary” manner, and the homebuyers were subjected to prolonged uncertainty and financial loss.
The funds entrusted for project development were “diverted” for purposes unrelated to the housing projects.
The money laundering investigation against OSBPL and Yadav stems from FIRs filed by the Delhi and Haryana police on charges that the company duped homebuyers of affordable housing projects through arbitrary cancellations and re-allotments.
The ED told a court, while seeking Yadav’s remand, and in a public statement, that his wife Sunita Swaraj “relocated” to the US in August 2025 and was found residing at Harvard University in Boston, Massachusetts.
The ED statement said that Yadav was “attempting” to liquidate his domestic assets and relocate abroad.
It said funds diverted in the case were laundered by routing them through multiple entities, including a company named KTP Infratech Pvt. Ltd. and were utilised for acquisition of immovable properties, luxury expenditure and personal investments.
“The diverted funds were further layered and utilised for personal expenses, acquisition of properties and other ventures, reflecting a calculated abuse of trust reposed by homebuyers,” the agency alleged in the past. PTI NES HIG HIG
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.