ED Attaches Property Worth ₹54.71 Crore in Delhi’s Maharani Bagh in Amrapali Group Money Laundering Case
The Enforcement Directorate has provisionally attached a property in Maharani Bagh, alleging that funds collected from homebuyers for incomplete Amrapali housing projects were diverted to acquire it.
- The ED attached a property valued at ₹54.71 crore in Maharani Bagh, Delhi.
- The investigation involves allegations of diversion of more than ₹5,000 crore collected from homebuyers.
- The agency alleges that funds were routed through companies and individuals linked to Amrapali Group.
Delhi: The Enforcement Directorate (ED) has provisionally attached an immovable property worth ₹54.71 crore in Delhi’s Maharani Bagh area in connection with a money laundering investigation involving the Amrapali Group and others. According to the agency’s statement issued on Saturday, the property is located at A-3 (New), Maharani Bagh, and is registered in the name of Surbhaee Advertising. The action is part of an investigation into the alleged diversion of homebuyers’ money.
The ED’s Lucknow Zonal Office initiated the investigation following 18 FIRs registered by the Uttar Pradesh Police and the Economic Offences Wing (EOW) of Delhi Police. The cases concern alleged cheating, criminal breach of trust, forgery and criminal conspiracy involving Amrapali Group companies and their directors and promoters. The agency is examining how money collected for residential projects in Noida and Greater Noida was allegedly transferred and used for purposes other than the intended construction.
According to the ED, Amrapali Group launched multiple housing projects and collected substantial advances from buyers with promises of delivering flats within 36 months, along with assured returns. However, several projects remained incomplete, and affected buyers allegedly neither received possession of their homes nor obtained refunds.
The agency cited a forensic audit that reportedly identified the diversion of more than ₹5,000 crore in homebuyers’ funds. Investigators allege that money was transferred to shell companies and entities associated with the group before being siphoned off by directors under the guise of professional fees.
In its statement, the ED alleged that a portion of the diverted funds was transferred, both directly and through family members of Anil Kumar Sharma, managing director of Amrapali Group, to Surbhaee Advertising in the form of loans. The agency claims that these funds were subsequently used in connection with the Maharani Bagh property.
The provisional attachment is intended to prevent the property from being transferred or otherwise dealt with during the proceedings, subject to the applicable legal process. The allegations remain subject to adjudication and should not be treated as a final determination of criminal liability.
The action adds another development to the long-running investigation into the financial dealings of Amrapali Group. For homebuyers awaiting possession or refunds, the attachment is relevant because it targets an asset that the agency alleges is linked to diverted funds.
However, the attachment itself does not mean that buyers will immediately receive compensation. Any recovery or distribution of money will depend on the further legal proceedings, the status of the attached asset and the applicable court or authority orders.
The ED is expected to continue its investigation into the alleged movement of homebuyers’ money and the assets suspected of being acquired using those funds. The provisional attachment will be subject to the prescribed legal process, including adjudication under the Prevention of Money Laundering Act, where applicable.
Homebuyers should follow official updates from the ED, the courts and the authorities overseeing Amrapali projects for information about further recovery measures or possible relief.
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