ED Attaches Rs94.82 Crore Assets of Sidhartha Buildhome in Home-buyer Fraud Case
Moneylife Digital Team 02 April 2025
The Gurugram zonal office of the directorate of enforcement (ED) has provisionally attached immovable assets worth Rs94.82 crore belonging to Sidharth Chauhan, promoter of Sidhartha Buildhome Pvt Ltd (SBPL), along with his companies and associates. The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with a large-scale fraud involving homebuyers.
 
The attached assets include land parcels, a residential house and a commercial building located at Gurugram in Haryana. 
 
According to the ED, the move follows an investigation triggered by multiple first information reports (FIRs) registered by the economic offences wing (EOW) in New Delhi, based on complaints from home-buyers. The complaints were related to SBPL’s real estate projects, Estella and NCR One, where the company allegedly failed to deliver homes as promised.
 
The investigation revealed that SBPL had collected around Rs520 crore from more than 950 home-buyers for its projects in Gurugram. However, instead of utilising the funds for construction and timely delivery, the company diverted the money to its group entities as unsecured loans and investments in unrelated ventures.
 
ED’s probe is still ongoing and further legal action is expected against those involved in the misappropriation of funds.
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