New Delhi, March 31 (H.S.): The Enforcement Directorate (ED) has seized assets worth Rs 94.82 crores belonging to Siddharth Chauhan, the promoter of Siddharth Buildhome Private Limited, and others under the Money Laundering Act in connection with a case of cheating various home buyers.

The ED stated in a release on Monday that provisional seizures have been made of immovable properties valued at Rs 94.82 crores related to the promoter Siddharth Chauhan, his companies, and other individuals involved in the case of fraud with several home buyers. This action was taken by the ED's Gurugram zonal office under the provisions of the Prevention of Money Laundering Act, 2002. The seized assets include portions of land, houses, and commercial buildings located in Gurugram, Haryana.

The ED initiated the investigation based on an FIR lodged by the Economic Offenses Wing (EOW) of Delhi. The EOW had filed the FIR against Messrs SBPL and others based on complaints from various home buyers related to Project Estella and NCR One in Gurugram. It is alleged that these individuals promised to deliver homes to buyers in 2002 but failed to do so within the stipulated time. The ED has now tightened its grip on these individuals, and the investigation is ongoing.

Hindusthan Samachar / Jun Sarkar