1 week ago
ED Raids Tashee Group Over ₹386 Crore Homebuyer Fraud
India’s Enforcement Directorate searched places linked to the Tashee Group.
The agency is investigating alleged problems involving two housing projects in Gurugram.
It says more than 600 people paid about ₹386 crore for homes but did not receive possession for 10 to 15 years.
The agency also alleges that investor money was misused.
This allegedly included ₹98 crore from the SWAMIH Fund.
Investigators are tracing transfers between connected companies.
They are also examining alleged foreign investments linked to the promoter’s family.
Documents, digital records, some bank funds, and a luxury car were seized or frozen.
The searches followed police cases alleging cheating and other financial fraud.
The Enforcement Directorate searched and surveyed seven Delhi-NCR premises on August 19 and 20 under the Prevention of Money Laundering Act.
The investigation concerns alleged cheating in Tashee Capital Gateway and Orion Galaxy projects in Gurugram.
The ED said more than 600 homebuyers paid approximately ₹386 crore but were not given possession after 10 to 15 years.
The agency alleged that about ₹120 crore in investor funds was misappropriated, including ₹98 crore invested by the SWAMIH Fund.
Officials seized documents and digital data and froze or seized bank accounts, fixed deposits containing ₹22 lakh, and a luxury car.
- Who
- The Directorate of Enforcement is investigating Tashee Group, associated companies, Resolution Professional Kashi Nath Shukla, and others.
- What
- The ED conducted searches in an alleged money-laundering investigation involving homebuyer, investor, housing-loan, and SWAMIH Fund fraud.
- Where
- Seven premises in Delhi-NCR were searched. The investigation concerns projects in Sectors 111 and 68 of Gurugram.
- When
- The searches and surveys took place on August 19 and 20; the year was not specified. A separate report said homebuyers protested in December 2025.
- Why
- The probe followed FIRs and chargesheets alleging that homebuyer and investor funds were collected, misappropriated, and diverted.
Key facts
- Investigating agency
- Directorate of Enforcement, Gurugram Zonal Office
- Legal basis
- Prevention of Money Laundering Act, 2002
- Projects
- Tashee Capital Gateway in Sector 111 and Orion Galaxy, formerly Spire South, in Sector 68, Gurugram
- Homebuyer funds
- Approximately ₹386 crore collected from more than 600 homebuyers
- Possession delay
- The ED said buyers waited 10 to 15 years without receiving possession
- Alleged investor diversion
- About ₹120 crore, including ₹98 crore invested by the SWAMIH Fund
- Search outcomes
- Documents, financial records, digital data, bank accounts and FDRs containing ₹22 lakh, and a luxury car were seized or frozen
- Homebuyer protest
- The Capital Gateway Home Buyers Welfare Association, representing over 200 allottees, protested in December 2025 over delays and regulatory concerns
Quotes
Directorate of Enforcement
Government enforcement agency investigating the fraud
“"Substantial amounts collected from homebuyers and received through financial/investment facilities were transferred between interconnected group companies and promoter-controlled entities," the ED said.”
republicworld.com
Sources
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