New Delhi, Jan. 6 -- The Enforcement Directorate (ED) on Tuesday said it has attached movable and immovable properties valued at Rs 51.57 crore in a money laundering case of Ocean Seven Buildtech Pvt Ltd (OSBPL).

ED said its headquarters unit in New Delhi attached the properties under the Prevention of Money Laundering Act (PMLA), 2002, following a detailed financial investigation which revealed "systematic misuse" of funds collected from a large number of homebuyers who had invested their savings in affordable housing projects.

"Instead of being utilised for construction and delivery of the promised units, the projects remained incomplete, allotments were cancelled in an arbitrary manner, and the homebuyers were subjected to prolonged ...