India, Dec. 8 -- The Enforcement Directorate (ED) is expected to chargesheet a Gurugram-based real estate company and its promoters in a multi-crore money laundering investigation linked to alleged irregularities in the Pradhan Mantri Awas Yojna (PMAY) and fraud with homebuyers, official sources said Sunday.
Swaraj Singh Yadav, the MD and key person of the company named Ocean Seven Buildtech Pvt Ltd. (OSBPL), was arrested by the federal probe agency on November 13 and is currently lodged in jail under judicial custody.The ED has alleged that Yadav "fraudulently diverted" and laundered homebuyers' funds worth '222 crore collected under
PMAY through cancellation and re-sale of units at inflated prices, collection of substantial cash premium...