New Delhi [India], July 21 (ANI): The Enforcement Directorate (ED) on Monday arrested Sandeep Yadav and Arvind Walia, director and majority shareholders of Ramprastha Promoters and Developers Pvt Ltd (RPDPL), in connection with its ongoing investigation into the alleged “builder-buyer fraud” worth ₹1,100 crores, officials said.
The arrests followed searches by ED officials earlier on Monday at the residential and business premises of Yadav and Walia under the provisions of the Prevention of Money Laundering Act, 2002. The raids were carried out at three locations in Delhi and Gurugram as part of the money-laundering probe against RPDPL.
On July 11 this year, the ED had also attached immovable properties worth ₹681.54 crores belonging to RPDPL and its group companies.
According to the agency, RPDPL collected approximately ₹1,100 crores from more than 2,000 homebuyers for its projects — including Project Edge, Project Skyz, Project Rise, and Ramprastha City (a plotted colony project) — but failed to deliver possession of flats and plots even after 15–20 years.
The ED’s investigation into the long-pending projects and alleged misappropriation of funds continues. (ANI)
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