Archive · 8 Dec 2025
ED Charges OSBPL in ₹222 Crore PMAY Fraud
The Enforcement Directorate (ED) is investigating a real estate company, Ocean Seven Buildtech (OSBPL), and its director, Swaraj Singh Yadav, for allegedly cheating homebuyers and laundering money.
They collected ₹222 crore under a government housing scheme called PMAY but used the money for personal gains.
Yadav and his family are accused of selling assets quickly to avoid legal action and transferring money to the US.
The ED wants to attach these assets to return the money to the victims.
The company has not responded to these allegations yet.
Yadav's lawyers argue that some cases have been settled, but the court rejected this claim.
The Enforcement Directorate is investigating OSBPL and its director for alleged fraud and money laundering under PMAY.
Swaraj Singh Yadav was arrested on November 13 for diverting ₹222 crore of homebuyers' funds.
Yadav and his family allegedly sold assets quickly and transferred money to the US to avoid legal action.
The ED aims to attach Yadav's assets to restitute the victims of the alleged fraud.
The company has not responded to the ED's allegations, while Yadav's lawyers claim some FIRs are settled.
- Who
- Swaraj Singh Yadav, Managing Director of OSBPL, and his family
- What
- Alleged fraud and money laundering under PMAY
- When
- Arrested on November 13; fraud investigation ongoing
- Where
- Gurgaon, Maharashtra, Rajasthan, and the US
- Why
- To divert homebuyers' funds and launder money
ED's Allegations
Yadav's Defense
FIR Settlements
ED's Allegations
The ED argues that the FIRs are not settled and the case is ongoing.
Yadav's Defense
Yadav's lawyers claim that many FIRs in the case have already been settled.
- Company Involved
- Ocean Seven Buildtech Pvt Ltd (OSBPL)
- Accused Person
- Swaraj Singh Yadav (Managing Director)
- Alleged Fraud Amount
- ₹222 crore
- Scheme Involved
- Pradhan Mantri Awas Yojana (PMAY)
- Arrest Date
- November 13
- Alleged Actions
- Diversion of funds, money laundering, asset dissipation
- Locations Involved
- Gurgaon, Maharashtra, Rajasthan, US
- Custody Status
- Judicial custody after 14 days of ED custody
