The Enforcement Directorate has intensified its investigation into an alleged ₹386 crore homebuyer fraud linked to the Tashee Group, conducting searches at seven Delhi-NCR locations. The probe concerns residential projects in Gurugram and allegations of delayed possession, diversion of funds, and financial irregularities. The ED is examining money collected from more than 600 homebuyers, including alleged diversion involving SWAMIH Investment Fund support. Investigators are also tracing transactions among related entities, suspected proceeds of crime, asset transfers and financial dealings involving individuals associated with the group.

ED Searches Seven Delhi-NCR Locations in Rs 386 Crore Homebuyer Fraud Probe Linked to Tashee Group

The Directorate of Enforcement conducted searches in Delhi-NCR in connection with a money laundering probe into alleged homebuyer fraud, diversion of funds and financial irregularities involving the Tashee Group and related entities.

The Enforcement Directorate (ED) has intensified its probe into an alleged Rs 386 crore homebuyer fraud involving the Tashee Group and is carrying out search and survey operations at seven premises in the Delhi-NCR region.

The ED’s Gurugram Zonal Office took action on August 19 and 20 under the Prevention of Money Laundering Act (PMLA), 2002. The probe pertains to M/s Tashee Land Developers Pvt Ltd, M/s KNS Infracon Pvt Ltd, M/s Soni Infratech Pvt Ltd, Resolution Professional Kashi Nath Shukla, and some associated entities and persons.

The agency said that the probe was initiated based on several First Information Reports and chargesheets filed by the Economic Offenses Wing of Delhi Police and Haryana Police. These cases pertain to the alleged cheating of homebuyers and investors in residential projects in Gurugram.

The projects in question are the Tashee Capital Gateway Project in Sector 111 and the Orion Galaxy Project, formerly known as Spire South, located in Sector 68. The allegations include late possession, diversion of finances, and losses to investors and are being probed by authorities.

Homebuyer Funds and SWAMIH Investment Under Investigation

According to the ED, the Tashee Group raised about Rs 386 crore from over 600 home buyers in the projects. It has been alleged that possession of houses was not handed over even after making huge payments, after a delay of 10-15 years.

The agency also alleged that the money of investors to the tune of nearly Rs 120 crore was siphoned off. This includes Rs 98 crore invested via the Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund.

The ED said in a statement that huge sums collected from home buyers and received from financial and investment facilities were routed between inter-connected group companies and entities allegedly controlled by the promoters.

Investigators are looking at how the money flows, the use of capital on a project basis and transactions between companies. The aim is to identify the suspected proceeds of crime and to identify assets which may have been obtained by the suspected misappropriation of funds.

The probe involves allegations of fraudulent procurement of SWAMIH Investment Fund support, housing loan fraud and alleged deception of investors linked to the affected projects, Sprouts News said.

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Foreign Investments and Asset Transfers Come Under Scanner

Financial transactions related to Kashi Nath Shukla’s family members have also come under the investigation. The ED said that family members of the principal promoter were reportedly shifted abroad in recent years.

Authorities said Kashi Nath Shukla had transferred or liquidated large assets held in India over the last 5-10 years. Investigators are looking into whether the transactions are linked to the wider financial investigation.

Substantial investments were also spotted in the names of family members in foreign companies and entities, the agency stated. Among the investments under review is an elderly care home in the United Kingdom.

Investigators said one family member also allegedly attempted to acquire citizenship of St Kitts through an investment-based program. Authorities are investigating whether there is any link between overseas investments and residency arrangements and the alleged diversion of funds.

The ED has recovered documents, financial records related to foreign investments, and digital evidence related to the companies and projects under investigation during the searches. The material is relevant to the ongoing money-laundering inquiry, officials said.

Bank accounts and fixed deposit receipts with an outstanding balance of around Rs 22 lakh were frozen or seized during the operation. Luxury vehicles were also taken into custody as part of enforcement efforts.

The investigation is ongoing, and officials expect to continue to look into financial records, asset transfers, and links to international investments. Depending on the probe’s findings, there may be further legal and regulatory action.