Gurugram: The ED filed a chargesheet against 41 individuals and entities in a Rs 1,000 crore fraud by ADEL Landmarks, which failed to deliver flats to homebuyers in Gurugram, Faridabad and Palwal over the past two decades, an official said on Thursday.
Those named by the Directorate of Enforcement (ED), Gurugram Zonal Office, in the chargesheet, filed before the Special Judge (PMLA) court, Gurugram, include ADEL Landmarks (the company) and its then directors Hem Singh Bharana and Sumit Bharana, the official said in a statement.
The chargesheet was filed under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA). After the filing of the chargesheet, the Special Court issued notices on November 3 to all accused persons/entities, the ED said.
The ED investigation was initiated on the basis of 74 FIRs registered/chargesheets filed by police of Haryana and Delhi (including EOW). As per the FIRs, the company, its promoters, and its associate companies cheated and defrauded numerous homebuyers by failing to deliver the promised flats and units within the stipulated timelines, even after a delay of 12 to 19 years.
The central probe agency’s investigation revealed that ADEL Landmarks had launched several residential group housing projects in Gurugram, Faridabad and Palwal, and collected over Rs 1,075 crore as booking advance from 4,771 customers.
The ED said the booking included projects like Cosmocourt, Cosmocity-L, Cosmocity-III, Skyville, Redwood Residency, Era Green World. Era Divine Court, ADEL Divine Court. These projects, launched during 2006-2012, are still incomplete.
Investigation by the ED revealed that instead of utilising the funds for completion of these housing projects, the company, through its then directors/promoters, diverted a huge amount of home-buyers’ funds to its group companies as advances for purchase of land parcels and for other purposes. This ultimately resulted in the non-delivery of booked flats, plots and units to home-buyers.
Earlier, the ED attached immovable properties, including plots and land parcels admeasuring 340 acres located in Gurugram, Faridabad, Palwal and Bahadurgarh (Haryana) as well as in Meerut and Ghaziabad (Uttar Pradesh), valued at Rs 585.46 crore and held by the accused company and its related entities, forming part of the ‘proceeds of crime’ under the PMLA, 2002.
These proceeds of crime have also been prayed for confiscation under PMLA, 2002 in the Prosecution Complaint filed by the ED, said the statement.
(IANS)
