ED Attaches Properties in Money Laundering Case

The Enforcement Directorate (ED) has provisionally attached properties valued at ₹834.03 crore, spread over 401.65479 acres, belonging to EMAAR India Ltd and MGF Developments Ltd, as part of a money laundering investigation. The assets, located in 20 villages across Gurugram, Haryana, and Delhi, are linked to a license obtained in 2010 for a residential plotted colony in Gurgaon. The investigation stems from an FIR by the Central Bureau of Investigation (CBI) against former Haryana Chief Minister Bhupinder Singh Hooda and other officials for corruption and cheating landowners under the Land Acquisition Act. The ED alleges that the companies fraudulently acquired land at below-market prices, causing significant losses to landowners and the state. This action marks a continuation of scrutiny over EMAAR's operations, which have previously drawn attention from law enforcement agencies. The case highlights ongoing concerns regarding real estate practices in India.