Charges Filed Against 41 in ₹1,000 Crore Housing Fraud Case in Gurugram

Gurugram, November 12 (Daily Kiran) : The Enforcement Directorate (ED) has filed a chargesheet against 41 individuals and entities linked to a ₹1,000 crore housing fraud case involving the company ‘Adele Landmarks.’ Over the past two decades, the firm failed to deliver flats to homebuyers in Gurugram, Faridabad, and Palwal, an official announced on Thursday.

The chargesheet was submitted to a special Prevention of Money Laundering Act (PMLA) court in Gurugram. It names Adele Landmarks and its former directors, Hem Singh Bharana and Sumit Bharana, as key accused. This legal action follows the ED’s investigation based on 74 FIRs filed by Haryana and Delhi police, including the Economic Offences Wing.

According to the FIRs, the company and its promoters deceived homebuyers by not delivering promised flats and units within the stipulated time, resulting in delays ranging from 12 to 19 years. Investigations revealed that Adele Landmarks initiated several residential projects and raised over ₹1,075 crore from 4,771 customers as advance booking amounts.

The projects in question include Cosmocourt, Cosmosity-L, Cosmosity-III, Skyville, Redwood Residency, Era Green World, Era Divine Court, and Adele Divine Court, all of which were launched between 2006 and 2012 but remain incomplete.

The ED found that instead of using the funds to complete these housing projects, the company diverted a significant amount of homebuyers’ money to its group companies through its directors and promoters. This money was allegedly intended for land purchases or other purposes, leading to homebuyers not receiving their booked flats, plots, and units.

Previously, the ED seized assets linked to the accused company and its affiliates, including 340 acres of land in Gurugram, Faridabad, Palwal, and Bahadurgarh (Haryana), as well as in Meerut and Ghaziabad (Uttar Pradesh). These properties are valued at ₹585.46 crore and are considered proceeds of crime under the PMLA.

The ED’s statement indicated that the chargesheet also seeks the complete confiscation of these proceeds of crime as per the provisions of the PMLA, 2002.