New Delhi: The ED attached immovable assets worth approximately Rs 140 crore belonging to Earth Infrastructure, its subsidiaries and promoters in connection with a Rs 2,004 crore fraud with 19,425 homebuyers and investors, an official said on Monday.
The Enforcement Directorate (ED), Delhi Zonal Office-II, has provisionally attached immovable assets of the company and its promoters Avdhesh Kumar Goel, Rajneesh Mittal, Atul Gupta and Vikas Gupta, along with their family members and related entities under the Prevention of Money Laundering Act (PMLA), 2002.
With the latest attachment, the total value of assets attached and seized in the case has reached approximately Rs 352 crore, the ED said.
The attachment stems from an ongoing money laundering investigation involving Earth Infrastructure and associated entities in connection with a large-scale fraud and alleged misappropriation of public funds, it said.
The investigation was initiated on the basis of five FIRs registered by the Economic Offences Wing (EOW), Delhi Police, against Earth Infrastructure, its directors and related entities under various sections of the IPC, it said.
The Serious Fraud Investigation Office (SFIO) has also filed a criminal complaint under Section 447 of the Companies Act against the group’s promoters and directors, said the statement.
According to the ED, the group collected about Rs 2,004 crore from more than 19,425 homebuyers and investors by promising timely delivery of residential and commercial units as well as assured returns.
The probe found that substantial funds were diverted through various group entities and related concerns. Despite receiving large sums from buyers and investors, many projects were either left incomplete or possession of units was not handed over, causing losses to homebuyers and investors, the ED said.
The investigation revealed that a part of the proceeds of crime generated from the scheduled offences was used to acquire movable and immovable assets in the names of various entities and individuals associated with the group’s promoters and directors, the ED said.
Earlier, the ED conducted searches in April 2026 at multiple premises linked to the Earth Group across Delhi-NCR. The searches resulted in the seizure of cash worth about Rs 6.30 crore, jewellery valued at approximately Rs 8.78 crore, and property documents relating to more than 100 immovable properties with an estimated value exceeding Rs 100 crore.
The ED stated that Avdhesh Kumar Goel, Rajneesh Mittal, Atul Gupta and Vikas Gupta played a central role in planning and executing the diversion of funds through a complex web of transactions.
They were arrested on June 1 under Section 19 of the PMLA following due legal procedure. A chargesheet was subsequently filed against them on July 29 seeking conviction and confiscation of properties worth more than Rs 212 crore, the ED said.
(IANS)
