The Enforcement Directorate (ED) has conducted fresh searches against real estate company Raheja Developers as part of a money laundering investigation linked to alleged fraud with home buyers. The agency said that nearly seven premises in Delhi-NCR are being covered as part of the action, and the raid was against the company, its promoters and some others in June 2025 too as part of a similar investigation, as reported by PTI. The searches are being conducted in the matter of alleged fraud with the home buyers and non-delivery of flats in its project 'Raheja Revanta'.
On the matter, Raheja Developers released a statement saying, "The project delay is primarily due to the lack of essential government infrastructure, despite full payment of EDC/IDC."
The possession for the 61-storey structure cannot be safely delivered without critical services like water, electricity, sewerage, and firefighting systems, it added.
The raids are part of the continuing investigation related to multiple FIRs filed by the Economic Offences Wing (EOW) of Delhi Police against Raheja Developers, its Managing Director Naveen Raheja, and others.
ED had earlier conducted searches at 13 locations across Delhi, NCR and Mohali on June 27 under the PMLA.
The probe came after FIRs alleging that the company collected substantial funds from investors and homebuyers on the promise of delivering residential flats in various group housing projects but failed to hand over possession.
During those earlier raids, the ED said it seized incriminating documents, digital devices, and records related to movable and immovable assets. The findings pointed to suspected diversion and misuse of funds collected from buyers, forming the basis for the ongoing money laundering investigation.
Earlier, the National Company Law Appellate Tribunal (NCLAT) rejected a plea by Raheja Developers seeking to terminate insolvency proceedings noting that disputes between the developer and homebuyers remain unresolved. It was related to its Gurugram-based Raheja Shilas project.
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