As a part of the money laundering investigation against real estate firm Supertech and its promoters, the Enforcement Directorate (ED) has searched the premises of realty major DLF in Gurugram.
In its investigation, the agency has recovered some documents during the action that was carried out over the past few days, officials said.
The search is in connection with the ED investigation against Supertech. In this regard, the ED in June arrested Supertech promoter Ram Kishor Arora.
ED had said that huge amounts of money running into hundreds of crores were siphoned off through Supertech Group and they failed to adhere to their agreed obligations to provide the possession of flats to customers on time.
Supertech Group siphoned off Rs 440 crore received from customers and homebuyers for purchasing land in Gurugram in 2013-14 at highly inflated prices while their already promised projects in Noida were not completed, the agency said.
A new project was launched on this newly acquired land and further advance was collected from hundreds of homebuyers and loans were taken from banks/NBFCs which also became NPA and were declared “fraud” by banks, it alleged.
Many projects of Supertech Group has been facing the heat as on Monday, the Greater Noida authority issued notice for the third time to Supertech Ecovillage-1 high-rise in Greater Noida West, over its alleged unauthorised construction at the boundary of the high-rise complex, and directed the builder to remove the encroachment at the earliest.
The Greater Noida authority issued notice for the third time to Supertech Ecovillage-1 high-rise in Greater Noida West, over its alleged unauthorised construction at the boundary of the high-rise complex, and directed the builder to remove the encroachment at the earliest.
The builder allegedly built a gate at the society’s commercial complex, in violation of the approved layout plan.
Supertech hit the news last year as well as in August 2022, as its nearly 100-metre-tall twin towers, Apex and Ceyane, located on the Noida Expressway were demolished as per the Supreme Court order.
The structure was found to be constructed within Emerald Court premises in violation of norms.
Last year itself, it suffered another blow when the Delhi bench of the NCLT ordered to initiate the insolvency proceedings over a petition filed by the Union Bank of India for non-payment of dues of around Rs 432 crore.