New Delhi, Oct 14 The Enforcement Directorate has seized land parcels and bank deposits worth more than Rs 136 crore in a money laundering investigation linked to a home buyers’ “fraud” case against Gurugram-based realty firm Ocean Seven Buildtech Pvt Ltd (OSBPL), its promoter Swaraj Singh Yadav and his wife.
The attached properties include land parcels situated at Bilonchi village in Jaipur district and at Kotputli-Behror in Rajasthan; a residential plot in Sector-102, Gurugram, and the bank balances held in five accounts belonging to the company, Yadav and his wife Sunita Swaraj, the central agency said in a statement.
The total value of the assets is Rs 136.42 crore, including Rs 69.06 lakh in bank deposits, the agency said.
Swaraj Singh Yadav was arrested by the ED in November 2025 on the charge of duping buyers of affordable housing projects through arbitrary cancellations and re-allotments.
It is alleged by the ED that OSBPL collected more than Rs 118 crore from plot buyers in its four Rajasthan projects — Amber Garden at Bilonchi and Kot Residency, Kot Farms and Kot Industrial Estate at Kotputli-Behror — during December 2006-March 2015.
The agency stated that the money was collected based on the representation that the projects would be developed and possession of the allotted plots handed over within about three to four years.
In the Amber Garden Project, collections from buyers commenced in December 2006, years before OSBPL even applied to the Jaipur Development Authority (JDA) for the project map, the agency claimed.
“Site inspections carried out by the JDA and the revenue authorities revealed that the projects were never developed and the sites remain substantially vacant,” the ED said.
Buyers who had paid the full purchase amount, the ED added, and in several cases obtained registered conveyance deeds and possession letters, were “never” given possession and their plots were not even demarcated.
Instead of being utilised for developing these projects, the funds were “diverted” to purchase office premises for the OSBPL in Gurugram and to make advances towards other projects.
The ED said that after the FIRs were registered, about 39 acres of land owned by the accused company and its promoters were alienated between June and September 2025 in favour of its close associates or third-party individuals/entities.
Those properties have also been attached under the latest order.
(PTI News)
