ED Chargesheets Gurugram Realty Promoter in PMAY Fraud Case- Highlights
- ED files chargesheet against Swaraj Singh Yadav, promoter of Ocean Seven Buildtech Pvt Ltd (OSBPL), under PMLA
- Case linked to alleged cheating of homebuyers in PMAY affordable housing projects in Gurugram
- Chargesheet filed in special PMLA court, Patiala House, New Delhi
- ED alleges diversion of homebuyers’ funds for non-project uses, causing delays and cancellations
- Assets worth ₹50+ crore attached, including villa, hotel, resort, land and bank deposits
- Yadav arrested in November 2025, currently in judicial custody
- Probe based on multiple FIRs by Delhi and Haryana Police
- Funds allegedly laundered through multiple entities, including KTP Infratech Pvt Ltd
- ED claims attempt to liquidate assets and move abroad; wife relocated to US in Aug 2025
The Enforcement Directorate (ED) filed a chargesheet against a promoter of a Gurugram-based real estate firm and others as part of a money laundering investigation linked to an alleged fraud involving homebuyers under the Pradhan Mantri Awas Yojana (PMAY), officials said.
The complaint was filed before a special PMLA court at Patiala House Courts, New Delhi. The chargesheet mentions Swaraj Singh Yadav, promoter of Ocean Seven Buildtech Pvt Ltd (OSBPL), as well as his associated entities as accused in the case.
According to the ED, Yadav was a main decision maker at the real estate company and was basically the one orchestrating the fraudulent scheme related to affordable housing projects launched under PMAY in Gurugram. The agency said that the money collected from the buyers of the flats was intentionally diverted to non-project construction activities that brought about delays, cancellations, and buyers losing money.
At the beginning of last week, the ED fixed provisionally the assets of over 50 crore of Yadav and his associated entities. The properties include a villa, a hotel, a resort, land parcels, and bank deposits, the agency said in a release.
The central probe agency arrested Yadav in November 2025, and he is currently lodged in jail under judicial custody. The ED said a detailed financial investigation revealed systematic misuse of funds collected from a large number of homebuyers who had invested their savings in affordable housing projects.
Instead of being utilised for construction and delivery of promised housing units, the agency alleged, several projects remained incomplete, allotments were cancelled in an arbitrary manner and buyers were subjected to prolonged uncertainty. The funds entrusted for project development were allegedly siphoned off and used for personal expenses, acquisition of immovable properties and luxury expenditure.
The ED’s money laundering probe against OSBPL and Yadav stems from multiple FIRs registered by the Delhi and Haryana police, which accused the company of duping homebuyers through arbitrary cancellations and re-allotments of affordable housing units.
In court submissions and earlier public statements, the ED also claimed that Yadav attempted to liquidate domestic assets and relocate abroad. The agency said that his wife, Sunita Swaraj, relocated to the United States in August 2025 and was found residing in Boston, Massachusetts.
The ED further alleged that the diverted funds were laundered by routing them through multiple entities, including KTP Infratech Pvt Ltd, before being used for personal investments and property acquisitions. The layered transactions, the agency said, reflected a calculated abuse of trust reposed by homebuyers.
The case highlights growing regulatory scrutiny of affordable housing projects launched under government schemes, particularly where allegations of fund diversion and non-delivery to buyers have surfaced.
Image source- enforcementdirectorate.gov.in
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