ED Raids Builders across Delhi-NCR in Alleged Subvention Scheme Fraud Case
New Delhi: The Enforcement Directorate (ED) on Wednesday conducted searches at multiple locations in Delhi-NCR in connection with a money laundering investigation into an alleged fraud involving homebuyers under the guise of subvention schemes, officials said.
According to officials, at least five premises associated with three real estate companies—CHD Developers Ltd., Ninex Developers Ltd., and Manju J Homes (India) Ltd.—were searched under the provisions of the Prevention of Money Laundering Act (PMLA).
Officials said the searches were conducted to gather evidence related to the alleged financial irregularities and suspected laundering of funds linked to the case. The companies could not be contacted immediately for their response to the ED action.
