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The Directorate of Enforcement (ED) carried out search operations across Delhi and Gurugram in the past week in connection with a money laundering investigation involving Earth Infrastructures Ltd. and its group entities. The action, linked to multiple FIRs and a corporate fraud complaint, led to the seizure of cash, jewellery, bullion, luxury watches and property documents tied to more than 100 immovable assets, including suspected benami holdings. The probe centres on allegations that the developer mobilised over INR 2,024 crore from more than 19,000 homebuyers across several projects in Delhi-NCR and other cities, without delivering possession. Investigations indicate diversion of funds through associated companies and personal transactions, while insolvency proceedings had previously been initiated following buyer complaints over delayed or incomplete projects.
The Directorate of Enforcement (ED), Delhi Zonal Office, conducted search operations in the past week under the Prevention of Money Laundering Act (PMLA), 2002, against Earth Infrastructures Ltd. (EIL) and its associated entities across 10 premises in Gurugram and Delhi, as part of an ongoing probe into alleged financial irregularities involving delayed real estate projects and diversion of funds. Advertisement
The searches, linked to directors, promoters and associated entities of the Earth Group, resulted in the seizure of assets including cash amounting to approximately INR 6.3 crore and jewellery valued at around INR 7.5 crore. Officials also recovered silver bullion, luxury watches and property-related documents connected to more than 100 immovable assets, including suspected benami properties, with an estimated value exceeding INR 100 crore.
The money laundering investigation originates from five FIRs registered by the Economic Offences Wing (EOW), Delhi Police, against the company, its directors and related entities under provisions of the Indian Penal Code, 1860, covering allegations of cheating, criminal breach of trust and conspiracy. Separately, the Serious Fraud Investigation Office (SFIO) had filed a criminal complaint under Section 447 of the Companies Act against the promoters and directors of the group.
According to the ED's findings, the Earth Group, through EIL and its associated companies, had launched multiple residential and commercial developments under the Earth brand across Delhi-NCR, Gurugram, Greater Noida and Lucknow. Key projects included Earth Towne, Earth Sapphire Court, Earth Copia, Earth Techone, Earth Iconic, Earth Titanium, Earth Elacasa, Earth Gracia and Earth Skygate.
Corporate insolvency resolution proceedings had earlier been initiated against EIL and several group companies following applications by homebuyers, citing non-completion and delayed delivery in projects such as Earth Iconic, Earth Elacasa, Earth Titanium, Earth Towne, Earth Sapphire Court, Earth Copia and Earth Techone.
Investigations indicate that the group collected approximately INR 2,024.45 crore from more than 19,425 homebuyers and investors, promising timely delivery of units along with assured returns. However, despite receiving substantial advances, several projects remained incomplete or possession was not handed over.
The ED has alleged that funds mobilised from buyers were diverted towards acquisition of land parcels in Gurugram, Delhi and Rajasthan in the names of group entities and family members. The agency also identified routing of funds through shell and associated entities, personal land transactions, advances to unrelated parties and payments of salaries to family members without defined business roles. Further, proceeds were reportedly dissipated through sale of properties acquired using diverted funds.
The investigation has named key individuals, including Avdhesh Kumar Goel, Rajnish Mittal, Atul Gupta and Vikas Gupta, in connection with the alleged fraud. The agency also traced the movement of proceeds of crime through several group-linked entities, including Lavender Infratech Pvt Ltd, Dhurav Real Estate Developers Pvt Ltd, Murlidhar Infracon Pvt Ltd, Banke Bihari Farming Pvt Ltd and Julian Infracon Pvt Ltd, among others, for the acquisition and disposal of immovable assets.
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