Goa, March 5 -- The Enforcement Directorate (ED) has launched an investigation into the Bhutani Group, a prominent real estate company, over alleged financial irregularities and misappropriation of investor funds.

The group reportedly collected over Rs 3,500 crore from investors for various projects but failed to allocate promised plots. Instead, funds were allegedly diverted for personal property acquisitions, including Rs 200 crore invested in Singapore and the US.

ED has seized multiple property documents and frozen the bank accounts of those implicated.

Opposition to Bhutani Project in Goa

Bhutani Group's proposed project in Sancoale, Goa, has faced strong opposition from locals and activists. The project, which includes around 75...