Overview
- The agency, which searched 10 Delhi and Gurugram sites Friday, reported seizing Rs 6.3 crore in cash plus jewellery worth about Rs 7.5 crore along with silver bullion and luxury watches.
- The money-laundering case draws on five Delhi Police Economic Offences Wing FIRs and a Serious Fraud Investigation Office complaint under Section 447 of the Companies Act.
- Investigators say the group raised roughly Rs 2,024.45 crore from more than 19,425 buyers and investors for multiple ‘Earth’ projects, yet many sites remain stalled with no possession handed over.
- The ED alleges diversion of buyer funds through group and shell entities for land deals, advances to unrelated firms, payments to family members without active roles, and sales of properties bought with diverted money.
- Promoters and directors named include Avdhesh Kumar Goel, Rajnish Mittal, Atul Gupta, and Vikas Gupta, and officials say the probe now focuses on tracing assets across linked companies as the firm remains in insolvency since 2018.