The Enforcement Directorate is investigating a Gurugram-based realty group, 32nd Avenue, following raids related to an alleged ₹500 crore investor fraud, highlighting the ongoing crackdown on financial crimes in the real estate sector.
Key Points
- The Enforcement Directorate (ED) raided seven premises linked to the 32nd Avenue realty group in Gurugram.
- The investigation focuses on an alleged ₹500 crore fraud perpetrated against investors by the realty group.
- Multiple FIRs filed by the Haryana Police, based on investor complaints, triggered the ED's investigation.
- The promoter-directors of the Gurugram-based realty group are reportedly absconding or in judicial custody.
The Enforcement Directorate on Monday conducted raids against a Gurugram-based realty group as part of an investigation into alleged ₹500 crore fraud with investors, officials said.
Authorities raided seven premises linked to the entity named 32nd Avenue. The group operates in Delhi-NCR and Goa, the officials said.
The company or its promoter could not be reached for comment.
Details of the Investigation
ED officials said the case stems from multiple FIRs filed by the Haryana Police based on complaints from investors who were allegedly duped by the group.
The promoter-directors of the group are presently absconding or are in judicial custody, they said.
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