Directorate of Enforcement (ED), Gurugram Zonal Office has arrested Arvind Walia and Sandeep Yadav, both
Directors and majority shareholders of M/s Ramprastha Promoters & Developers Pvt. Ltd. (M/s RPDPL) on
21.07.2025 under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in a case pertaining to
cheating of more than 2000 homebuyers by collecting approximately Rs. 1100 Crore in various real estate
projects without giving possession for more than 14 years. Both were produced before the Hon’ble Court of
Additional Sessions Judge, Gurugram and the Hon’ble Court has granted ED custody till 25.07.2025.
Moreover, ED has also conducted search operations on 21.07.2025 under the provisions of PMLA, 2002 at 03
locations in Delhi and Gurugram in connection with a money-laundering case against M/s RPDPL and its
Promoters/Directors.
ED initiated investigation on the basis of multiple FIRs registered by Economic Offences Wing (EOW), New
Delhi and Haryana Police. It was alleged in the FIRs that M/s RPDPL & its promoters have cheated/defrauded
various home buyers/plot buyers for failing to deliver the promised flats and plots within the promised
timeframes, even lapse of more than 10-14 years.
During investigation under PMLA, 2002, it is revealed that M/s RPDPL launched various projects such as Project
Edge, Project Skyz, Project Rise and Ramprastha City (plotted colony project) situated at Sectors 37D, 92 and
95, Gurugram in 2008-2011 and possessions of flats/ plotted lands was promised within 3-4 years of launch.
ED investigation revealed that M/s RPDPL had collected approximately Rs. 1100 Crore from more than 2000
homebuyers for the said projects. The Promoters / Directors of M/s RPDPL diverted funds of more than Rs.
140 Crore collected from homebuyers to its group companies as advances for purchase of land parcels etc.
instead of using the same for completion of promised homes which ultimately led to failure to deliver the flats
and plots till date. The key managerial persons of Ms/ RPDPL have cheated thousands of innocent homebuyers
by way of false assurance, misrepresentations and concealment of material facts causing wrongful gain to
themselves and wrongful loss to victims since 2006.
During the course of search proceedings, various incriminating documents and digital evidences, critical in
establishing the financial trail, were recovered and seized. The search actions resulted in seizure of
unaccounted cash amounting to Rs. 18 Lakh and six luxury cars belonging to the company used for personal
needs of the Directors. Moreover, three bank lockers and 34 bank accounts with balance worth multiple crores
were put under freeze. Earlier, immovable properties worth Rs 681.54 Crore belonging to M/s RPDPL and its
group companies have been provisionally attached on 11.07.2025.
