The Enforcement Directorate filed a PMLA prosecution complaint on November 6, 2026, against Raheja Developers Ltd., Managing Director Navin M. Raheja and 19 other accused. The agency alleges ₹1,353.26 crore was diverted or collected outside agreements from approximately ₹2,699.13 crore paid by 4,600 homebuyers and investors. The complaint, filed before a special court in Delhi, also seeks confiscation of previously attached properties with an estimated market value of ₹2,399.65 crore. The allegations have not been established by a court.
Raheja Developers Money Laundering Case Sees ED File PMLA Complaint Over Rs 2,699 Crore Homebuyer Fraud
The Enforcement Directorate has filed a prosecution complaint against Raheja Developers Limited, its Managing Director Naveen M Raheja and 16 others, individuals and entities, in an alleged case of diversion of homebuyer funds.
The money laundering case against Raheja Developers has entered a crucial legal phase with the Enforcement Directorate (ED) filing a prosecution complaint under the Prevention of Money Laundering Act, 2002. The complaint was filed before the Special PMLA Court at Saket in New Delhi.
The case is related to approximately Rs 2,699.13 crore collected from around 4,600 homebuyers for residential projects in Delhi and Gurugram. Much of the money raised was siphoned off and never used to build and hand over the homes, investigators say.
The complaint has named M/s Raheja Developers Limited, Managing Director Naveen M Raheja and a host of family members and other individuals and entities. The agency has prayed the court to take cognisance of the alleged offences and initiate trial proceedings.
ED Raheja Developers Money Laundering Investigation Reveals Fund Diversion
According to the ED investigation, Rs 1,175.86 crore was spent on construction from the collected funds, while Rs 1,177.40 crore was allegedly diverted elsewhere. Investigators found transfers involving companies controlled by promoters and their relatives.
The agency claimed some of the money was used for personal expenses and to purchase land not related to projects buyers had originally paid for. The projects were not complete, and buyers were reportedly waiting to take possession.
The prosecution complaint refers to Sections 44 and 45 of the PMLA, which deal with the proceedings before designated courts. The alleged money laundering offences are said to be in breach of Sections 3 and 4 of the legislation.
The probe is based on a Delhi Police FIR registered under Sections 406, 409, 420, 467, 468, 471 and 120B of the Indian Penal Code. These provisions are in respect of cheating, forgery, criminal breach of trust, using forged documents, and criminal conspiracy.
ED Searches and Property Attachments in the Raheja Case
On 27 June 2025, the Enforcement Directorate conducted searches at 14 places in Delhi-NCR and on 25 April 2026, it conducted searches at nine more places. Investigators seized documents, digital devices, cash and other materials in these operations.
The agency had earlier provisionally attached assets worth around Rs 810.57 crore under Section 5 of the PMLA. Since then, their market value has grown to Rs 2,399.65 crore.
The seized properties include residential buildings, commercial premises, land and other assets allegedly related to the suspects and companies.
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Naveen M Raheja and Family Members Arrested Under PMLA
The ED arrested Naveen M Raheja, his son Navin M Raheja, daughter-in-law Navina N Raheja and aunt Nirmal Raheja under the money laundering law.
The Special PMLA Court and the Delhi High Court reportedly rejected their bail applications. The arrests were part of the agency’s investigation into alleged movement of homebuyer funds through related business entities.
The complaint has named 21 individuals and companies as accused, including Raheja Developers Limited, Raheja Construction Limited, Raheja Pegasus Limited, N.F. Buildwell Private Limited, Raheja Aakarshan Entertainment Private Limited, and Stadia Farms Private Limited.
Other companies in the group, family members and associates have been named in the case. The accusations are subject to a judicial review, and the filing of a complaint does not constitute proof of guilt.
PMLA Proceedings Could Determine Accountability for Homebuyers
The filing of the prosecution complaint is a major development in a case involving thousands of property buyers and substantial financial transactions. The next phase of the proceedings will depend on how the court handles the allegations.
The alleged diversion of funds raises wider concerns about financial accountability, project financing, and safeguards for homebuyers in India’s real estate sector.
As proceedings continue before the Special PMLA Court in Saket, New Delhi, the trial may determine the extent of alleged financial irregularities and possible accountability, as per details reported by Sprouts News.
