Gurugram, April 1 The Directorate of Enforcement (ED), Gurugram office said on Tuesday it has provisionally attached immovable properties in the form of land worth Rs. 286.98 crore belonging to Three C Shelters Private Limited and its promoters namely Nirmal Singh and others under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
Additionally, equity shares worth Rs. 108.04 crore in G4S Secure Solutions (India) Private Limited, linked to another promoter, namely Vidur Bharadwaj, were also attached.
The investigation agency in total had attached assets worth Rs. 395.03 crore vide provisional attachment order dated 28 March 2025 issued u/s 5 of the Prevention of Money Laundering Act (PMLA), 2002 in the case of M/s Three C Shelters Pvt Ltd and others.
"The investigation agency initiated its investigation based on the First Information Report (FIR) related to cheating, criminal breach of trust, and fraud against Three C Shelters Pvt Ltd and its promoters for duping hundreds of homebuyers. The company was developing a residential project named Greenopolis in Sector 89, Gurugram, Haryana, and had collected Rs. 873.83 Crore from homebuyers," the investigative agency said in an official statement.
However, the project remained incomplete even after nine years, after the firm failed to deliver flats to homebuyers, ED said.
The ED had conducted searches on November 25, 2024, at the residences of promoters of Three C Shelters Private Limited and other locations, which evidently led to a collection of incriminating documents.
During the raid, the ED had found that the promoters of Three C Shelters Private Limited, through their promoters, acquired funds to the tune of Rs 873.83 crore from the innocent flat buyers in respect of the booking of flats in the Greenopolis project.
The project was never delivered, and funds were diverted to other related parties.
Sources said that the errant company is facing insolvency proceedings, leaving homebuyers in financial distress and losses.
"The investigation agency has found that the funds collected by the promoters were not utilised for the construction and development purpose and as per the investigation till date funds more than Rs 300 crore were siphoned off to its related parties, group companies and paper-based shell companies under the guise of “investment” to dupe the flat buyers," the investigative agency said in the statement.
“Further, it was revealed that the promoters of Three C Shelters Private Limited, with a malafide intent, had sold project inventory at artificially low prices to relatives, vendors, and connected entities, leading to a diversion of Rs. 90 crore. This was done to conceal Proceeds of Crime (POC) and cheat homebuyers,” the agency said.
--IANS
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