New Delhi, Nov 6 (IANS) The ED filed a chargesheet under PMLA against Raheja Developers, its promoters Navin M. Raheja and Nayan N. Raheja, and 18 others for laundering homebuyers’ funds of about Rs 1,353.26 crore, an official said/
The Directorate of Enforcement (ED) on November 6 filed the chargesheet under Sections 44 and 45 of the Prevention of Money Laundering Act (PMLA), 2002 before the Special Court (PMLA), Saket Courts, New Delhi.
The charge sheet was filed against Raheja Developers Ltd. (RDI), its Managing Director Navin M. Raheja, Nayan N. Raheja, son of Navin M. Raheja, Nayana N. Singhania, daughter of Navin M. Raheja, Nirmal Raheja, wife of Navin M. Raheja, and 16 other persons and entities, for the offence of money laundering defined under Section 3 and punishable under Section 4 of PMLA.
The ED investigation was initiated based on multiple FIRs registered by the Economic Offences Wing, Delhi Police and by the Gurugram Police against Raheja Developers Ltd. and its directors under Sections 406, 409, 420, 467, 468, 471 and 120-B of the IPC, on complaints of homebuyers who had paid for flats and commercial units in projects of the group, such as Raheja Revanta, Atlantis, Navin Minar and The Delhi Mall, but had received neither possession nor refund.
The ED investigation revealed that RDL collected about Rs 2,699.13 crore from about 4,600 homebuyers and investors in its residential and commercial projects in Delhi and Gurugram on the promise of timely delivery.
Instead of being used for construction, Rs 1,353.26 crore has so far been identified as proceeds of crime – Rs 1,175.86 crore taken out of the project, escrow, and RERA accounts for purposes other than construction, and Rs 177.40 crore collected from homebuyers in cash outside the registered agreements. Most projects of the group remain incomplete, the ED said.
Investigation has revealed that homebuyers’ money was diverted to group companies and to companies run through employees and their relatives as nominee directors, used to buy land in the names of these companies, and moved through RERA accounts of one project to another, it said.
Searches under Section 17 of PMLA were conducted on June 27, 2025, at 14 premises and on April 25 at 9 premises in Delhi-NCR, linked to RDL, its promoters, employees and associated entities.
Incriminating documents, digital devices, jewellery, gold coins, bullion, and foreign currency were seized, and their retention has been allowed by the Adjudicating Authority (PMLA), said the statement.
The ED has provisionally attached immovable properties having book value of Rs 810.57 crore and current market value of Rs 2,399.65 crore vide Provisional Attachment Orders dated April 28 and July 30.
Navin M. Raheja, Nayan N. Raheja, Nayana N. Singhania and Nirmal Raheja deliberately did not join the search proceedings and did not comply with the repeated summonses issued to them under Section 50 of PMLA, the ED said.
The ED has filed an application before the Special Court, Saket, seeking issuance of non-bailable warrants against all the aforementioned four accused. The anticipatory bail application of Nayan N. Raheja was dismissed by the Ld. Special Judge (PMLA), Saket Courts on September 19 and by the High Court of Delhi on October 15.
The Prosecution Complaint filed in the case arrays 21 accused: Raheja Developers Ltd Arabtec Construction (India) Pvt. Ltd., Riyasat Palaces Ltd., N.A. Buildwell Pvt. Ltd., Raheja Icon Entertainment Pvt. Ltd., Standard Farms Prt. Ltd., Navin M. Raheja, Nayan N. Raheja, Yogesh Huria, Arabtec Projects (India) Pvt. Ltd., Okamura Homes Pvt. Ltd., Betterchoice Realtors Pvt. Ltd., Devasya Developers Pvt. Ltd. (formerly Next Generation Projects Pvt. Ltd.), NBSAM Construction Pvt. Itd., Golden Palms Hospitality Prt. Ltd., Meryfur Tradelinks Pvt. Ltd., Suruchi Merchants Consultants Pvt. Ltd., Puja Huria, Sangeeta Kumar, Nayana N. Singhania and Nirmal Raheja.
The ED has sought confiscation of the attached properties and custody of the promoters and family members, namely Navin Raheja, Nayan N. Raheja, Nayana N. Singhania, and Nirmal Raheja, who have not joined the investigation, as and when they are apprehended.
–IANS
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