The Enforcement Directorate on Friday searched 13 locations across Delhi-NCR, Bengaluru and Chandigarh in a money laundering investigation linked to alleged fraudulent housing loans obtained in the names of Non-Resident Indians using forged documents.
The operation covered premises connected with Antriksh Promoters and Developers Pvt Ltd and Sunshine Infrawell Pvt Ltd, according to ED officials cited in the report. The searches began early in the morning and were conducted under the Prevention of Money Laundering Act in coordination with police and other security forces.
The investigation concerns suspected irregularities in loans intended for NRIs. Officials said the agency is examining the alleged role of the entities involved, the money trail and the total amount linked to the suspected fraud. The report did not specify the number or value of the loans under investigation.
The case highlights the importance of document verification in housing finance and property transactions involving borrowers who are based outside India. Forged identity, income, ownership or authorisation documents can affect lenders, developers and buyers, while investigations into the movement of the funds can extend across multiple jurisdictions.
During a search under the PMLA, the ED can provisionally seize documents, digital records and other material that it believes may be connected with the alleged proceeds of crime, subject to the provisions of the law. The agency’s searches across three locations indicate that investigators are examining records and possible financial links connected with the entities and the alleged loan transactions.
The report identified the two companies as entities covered by the search operation but did not state whether arrests had been made, whether any property had been attached or whether the companies had issued a response. It also did not establish the final findings of the investigation.
The ED’s next steps will include examining the seized documents and digital evidence, tracing the suspected money trail and determining the extent of the alleged financial irregularities. Any further action will depend on the evidence collected during the searches and the subsequent investigation.
