The Enforcement Directorate has provisionally attached an immovable property valued at Rs 54.71 crore in Delhi’s Maharani Bagh as part of its money-laundering investigation into the alleged diversion of funds collected from Amrapali homebuyers.
The property, located at A-3 (New), Maharani Bagh, stands in the name of Surbhaee Advertising Pvt. Ltd. The attachment was carried out by the agency’s Lucknow Zonal Office under the Prevention of Money Laundering Act, 2002, the Enforcement Directorate said.
The investigation was initiated on the basis of 18 first information reports registered by the Uttar Pradesh Police and the Economic Offences Wing of the Delhi Police against companies, directors and promoters linked to the Amrapali Group. The cases involve allegations including cheating, criminal breach of trust, forgery and criminal conspiracy under provisions of the Indian Penal Code, 1860.
Amrapali had launched several residential projects in Noida and Greater Noida, collecting money from homebuyers with promises of delivering flats within 36 months and offering assured returns, according to the agency’s findings cited in the report. Several projects remained incomplete, while buyers were allegedly not handed possession of their homes or refunded their investments.
A forensic audit conducted in the matter found that more than Rs 5,000 crore collected from homebuyers had allegedly been diverted by the group, the ED said. The agency’s investigation found that funds were allegedly routed through shell companies and other group entities before being siphoned off by the group’s directors under the guise of professional fees.
The ED further alleged that part of the diverted money was transferred, directly and through family members of Amrapali Group managing director Anil Kumar Sharma, to Surbhaee Advertising Pvt. Ltd. in the form of loans. The funds were subsequently used in connection with the Maharani Bagh property, according to the agency.
The property has been identified by the Enforcement Directorate as alleged proceeds of crime generated through the laundering of funds collected from homebuyers. A provisional attachment does not by itself determine final ownership or liability; proceedings under the PMLA will determine the legal status of the asset.
The latest action is part of the agency’s continuing effort to trace properties and other assets allegedly acquired using money linked to the Amrapali investigation. For affected buyers, the case remains tied to the unresolved consequences of stalled housing projects: possession delays, recovery of invested money and the identification of assets that may be available for legal resolution. The ED said further investigation is underway.
