The Enforcement Directorate (ED) has intensified its investigation into a major real estate fraud involving Orris Infrastructure Pvt Ltd and Three C Shelters Pvt Ltd, seizing luxury cars, fixed deposits (FDs), bank guarantees, and crucial documents. The agency announced the seizure of assets totaling Rs 31.22 crore, following a search operation conducted under the Prevention of Money Laundering Act (PMLA), 2002.
The operation, which took place on November 25, targeted Orris Infrastructure and Three C Shelters, along with their promoters and directors. The raids spanned 14 locations across Delhi and the National Capital Region (NCR). The ED froze several bank accounts and lockers, while four luxury vehicles — including a Mercedes, Porsche, and BMW — were seized from the residence of one of the promoters. This crackdown comes after the ED initiated its investigation based on two FIRs filed by the Economic Offences Wing (EOW) of Delhi Police, stemming from complaints by homebuyers and investors. The fraud reportedly involves hundreds of homebuyers who were allegedly duped by the accused companies, which failed to deliver residential units as promised.
According to the ED, Orris Infrastructure and Three C Shelters had entered into a collaboration agreement to develop a housing project named Greenpolis on a 47-acre land parcel in Sector 89, Gurugram, Haryana. The development rights were granted to Three C Shelters, but the project was never completed within the stipulated time, leading to widespread dissatisfaction among investors. The investigation also uncovered evidence of fund diversion and layering, with incriminating documents related to property ownership, fund transfers, and asset holdings seized during the raids. The ED recovered various sale deeds, registration deeds, and digital devices, including laptops and hard drives, containing further evidence of the fraudulent activities. The ED’s actions are part of an ongoing probe into a real estate fraud that has reportedly caused financial losses exceeding Rs 500 crore, with the accused facing multiple charges of cheating, criminal breach of trust, and fraud.
