A major crackdown on alleged homebuyer fraud has led to significant seizures, as Enforcement Directorate carried out raids against a Delhi-based real estate company.
The agency conducted search operations against Earth Infrastructures Limited (EIL) and its group entities under the Prevention of Money Laundering Act (PMLA). The raids covered 10 locations across Gurugram and Delhi linked to promoters, directors, and associates of the company.
During the operation, officials seized assets worth around ₹14 crore. This included cash of approximately ₹6.3 crore, jewellery valued at about ₹7.5 crore, along with silver bullion and luxury watches.
The investigation is based on 5 FIRs registered by the Economic Offences Wing of Delhi Police against EIL, its directors, and related entities. The charges include cheating, criminal breach of trust, and conspiracy. Additionally, the Serious Fraud Investigation Office has filed a criminal complaint under the Companies Act.
According to the agency, the Earth Group launched multiple projects under the “Earth” brand across Delhi-NCR, Gurugram, Greater Noida, and Lucknow. These include Earth Towne, Earth Sapphire Court, and Earth Copia. The company allegedly collected around ₹2,024.45 crore from over 19,425 homebuyers and investors by promising timely delivery and assured returns. However, several projects remained incomplete or possession was not given.
The probe suggests that funds were diverted to acquire land in Gurugram, Delhi, and Rajasthan in the names of group firms and family members. Money was also routed through shell entities, personal land deals, and payments to family members without active business roles. Investigators found that proceeds were further dissipated through the sale of such properties.
Key individuals identified in the case include Avdhesh Kumar Goel, Rajnish Mittal, Atul Gupta, and Vikas Gupta. The agency also flagged multiple group entities, including Lavender Infratech Private Limited, for their role in routing and diverting funds.
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