PMAY Housing 'Fraud&#8217 Case: ED Books Gurugram Realty Group Promoter

2026-01-10 03:06:09

(MENAFN- Kashmir Observer) New Delhi- 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.”

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