Bengaluru: The Enforcement Directorate (ED) filed a prosecution complaint against Raheja Developers and 20 other people and entities before a special court in Saket, New Delhi, on November 6. The agency alleges that ₹1,353.26 crore in funds collected from homebuyers was laundered.
The complaint under the Prevention of Money Laundering Act names the company, managing director Navin M. Raheja, his son Nayan N. Raheja, daughter Nayana N. Singhania and wife Nirmal Raheja, along with 16 other people and entities. The ED said its investigation followed police cases in Delhi and Gurugram filed after buyers complained that they had received neither possession nor refunds for homes or commercial units they had paid for.
ED alleges diversion of homebuyer funds
The ED said the developer collected about ₹2,699.13 crore from roughly 4,600 homebuyers and investors in Delhi and Gurugram. The agency says it has identified ₹1,353.26 crore as alleged proceeds of crime. That includes ₹1,175.86 crore it says was withdrawn from project, escrow and RERA accounts for purposes other than construction and ₹177.40 crore it says was collected in cash outside registered agreements.
Attached properties and court proceedings
The agency said it had provisionally attached immovable properties under three orders issued on April 28, June 15 and July 30, 2026. It put their combined book value at ₹810.57 crore and their current market value at ₹2,399.65 crore.
The ED said it has applied to the special court for non-bailable warrants against Navin Raheja, Nayan Raheja, Nayana Singhania and Nirmal Raheja. The release did not report that warrants had been issued. It said the investigation is continuing.
About the Author
