The directorate of enforcement (ED) has provisionally attached immovable properties worth about ₹944 crore linked to real estate company Piyush Colonisers Ltd, the company's former promoters and associated entities, in connection with an alleged money laundering and homebuyer fraud case.
The attachment, carried out by the agency’s Gurugram zonal office under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), includes project land parcels, residential flats, agricultural land and commercial properties spread across Faridabad, Palwal, Rewari and Bhiwadi.
According to ED, key project land parcels include about 63 acres in Palwal, 62 acres in Bhiwadi and around seven acres in Dharuhera. The agency has also attached commercial space measuring around 19,000sqft (square feet) in Faridabad.
In a parallel development, ED has filed a prosecution complaint before the special PMLA Court in Gurugram against Amit Goel, former promoter of Piyush Colonisers, and others on 30 March 2026.
The money laundering probe stems from multiple first information reports (FIRs) registered by Haryana police, the economic offences wing (EOW) in New Delhi and central bureau of investigation (CBI) under provisions of the Indian Penal Code, relating to allegations of criminal conspiracy, cheating and criminal misconduct.
Investigations revealed that more than 1,500 home-buyers were affected across various projects of the Piyush group in Palwal, Faridabad, Rewari and Bhiwadi, where promised residential units were not delivered, despite payments being made.
ED alleged that funds collected from buyers were diverted and siphoned off to subsidiary companies and, subsequently used for acquiring additional land parcels instead of completing ongoing projects. This diversion of funds, the agency says, contributed to the prolonged delays and eventual non-delivery of housing units.
The probe further uncovered that key promoters allegedly transferred project land parcels by routing shareholdings to family members without any consideration. According to ED, these transactions were carried out to alienate assets and shield them from claims by home-buyers, particularly during insolvency proceedings.
Piyush Colonisers entered the corporate insolvency resolution process in 2019. However, a resolution plan for the company is yet to be approved.
Officials say the promoters' actions stalled projects and caused significant financial losses for buyers, many of whom continue to await possession of their homes.
Further investigation in the case is ongoing, ED says.
₹3,750 Crore LIC Fraud Case: CBI Registers Fresh Case against Anil Ambani and RCom
Moneylife Digital Team
01 April 2026
Central bureau of investigation (CBI) on Wednesday registered a fresh case against industrialist Anil Ambani and Reliance Communications Ltd (RCom) over allegations of causing a wrongful loss of ₹3,750 crore to the Life Insurance...
NSEL Scam: ED Freezes ₹19.12 Crore Property Linked to LOIL Group
Moneylife Digital Team
27 March 2026
The directorate of enforcement (ED) has provisionally attached immovable properties worth ₹19.12 crore in connection with the long-running National Spot Exchange Ltd (NSEL) scam (), taking the total value of attached assets in the...
Nirav Modi Suffers Fresh Setback as UK Court Upholds Earlier Extradition Order to India
Moneylife Digital Team
26 March 2026
Fugitive diamond merchant Nirav Modi has suffered a fresh legal setback after the High Court of Justice, King’s bench division in London rejected his plea to reopen proceedings against his extradition to India.
The Court ruled...
Mahadev Online Book Scam: ED Attaches ₹1,700 Crore Assets in Dubai, Delhi
Moneylife Digital Team
26 March 2026
The directorate of enforcement (ED) has intensified its crackdown on the Mahadev Online Book betting syndicate by attaching assets worth about ₹1,700 crore, including high-value properties in Dubai and New Delhi, in one of the largest...
