The Enforcement Directorate on Monday arrested Sandeep Yadav and Arvind Walia, key directors and majority shareholders of Ramprastha Promoters and Developers Pvt Ltd, in connection with its ongoing investigation into an alleged builder-buyer fraud worth Rs 1,100 crores.
The arrests came after ED officials conducted multiple searches on the residences and business premises of Yadav and Walia earlier on Monday, under the provisions of the Prevention of Money Laundering Act (PMLA).
The searches were carried out at 3 locations in Delhi and Gurugram.
Details Of The Investigation
This move follows a series of actions taken by the ED, including the attachment of immovable properties worth Rs 681.54 crores linked to RPDPL and its group companies on July 11, 2025.
According to the ED, the investigation revealed that RPDPL had allegedly collected nearly Rs 1,100 crores from over 2,000 homebuyers for various real estate projects, including Project Edge, Project Skyz, Project Rise, and the Ramprastha City plotted colony project.
Despite the substantial amounts of money collected, homebuyers have yet to receive possession of their flats and plots, even after a waiting period of 15-20 years.
Read More: Supreme Court, Delhi High Court, States High Court, International
