ED Freezes Assets Worth Rs 944 Crore in Housing Scam

In a significant enforcement action, the Enforcement Directorate (ED) has attached immovable properties valued at around Rs 944 crore. This step comes under the Prevention of Money Laundering Act, targeting a case involving alleged housing scam affecting more than 1,500 buyers in Haryana and Rajasthan.

The action focuses on projects located in Palwal, Faridabad, Rewari, and Bhiwadi, initiated due to alleged non-delivery of housing units despite payment by buyers. The assets attached belong to Piyush Colonisers Limited, its former promoters, and associated business entities.

The attachment includes various assets such as project lands, flats, agricultural properties, and commercial spaces. The probe was driven by FIRs lodged by Haryana Police, the Economic Offences Wing in New Delhi, and the CBI, charging the accused under multiple provisions related to criminal conspiracy, cheating, and misconduct.