Archive · 23 Jul 2025
ED Arrests Buildwell Promoters for Alleged Homebuyer Fraud
Imagine some people promised to build houses and shops, taking money from people who wanted to buy them.
But they didn't finish the projects.
The government has now arrested these people, because they took the money but didn't deliver what they promised.
They had been hiding for a long time.
Many people invested money before 2010 and are still waiting for their homes or shops.
Investigators found the company collected a lot of money, but didn't use it all to build.
They are checking what happened to the money to figure out where it went.
ED arrested former Universal Buildwell promoters for alleged fraud.
The accused were remanded to custody until July 29.
The promoters had been absconding for over seven years.
The ED initiated investigation based on over 30 FIRs.
Homebuyers and investors were allegedly defrauded by uncompleted projects.
- Who
- Raman Puri, Varun Puri, and Vikram Puri, former promoters of Universal Buildwell.
- What
- Former promoters of Universal Buildwell were arrested for alleged fraud.
- When
- The arrests occurred recently and the accused were remanded to custody until July 29.
- Where
- Gurugram and Faridabad, Delhi-NCR.
- Why
- They are accused of defrauding homebuyers and investors by failing to complete real estate projects and misusing funds.
Homebuyers/Investors
Former Promoters
Project Completion
Homebuyers/Investors
Homebuyers invested in projects with the expectation of timely delivery.
Former Promoters
The promoters are accused of misappropriating funds.
- Agency
- Directorate of Enforcement (ED)
- Accused
- Raman Puri, Varun Puri, Vikram Puri
- Company
- Universal Buildwell
- Charges
- Fraud, Money Laundering
- Projects
- Gurugram and Faridabad
- Funds Collected
- Over ₹1,000 crore