ED chargesheet against Raheja Developers was officially filed under the Prevention of Money Laundering Act (PMLA) before the Special PMLA Court in Saket, New Delhi. Specifically, the Enforcement Directorate named Raheja Developers Ltd. (RDL), managing director Navin M. Raheja, Nayan N. Raheja, and 19 other entities and individuals in its prosecution complaint. Furthermore, the investigation stems from multiple police FIRs filed by aggrieved homebuyers who paid for residential and commercial units but received neither possession nor refunds.
Diversion of homebuyer funds and financial irregularities
According to the federal probe agency, RDL collected approximately ₹2,699.13 crore from roughly 4,600 homebuyers and investors across various projects in Delhi and Gurugram. However, instead of utilizing these resources for construction, investigators identified ₹1,353.26 crore as proceeds of crime.
Additionally, the probe revealed that ₹1,175.86 crore was systematically withdrawn from designated project, escrow, and RERA accounts for unauthorized purposes. Meanwhile, the company also collected ₹177.40 crore in cash outside registered agreements.
| Key Financial & Investigation Metric | Details and Amounts |
| Total Funds Collected | ~₹2,699.13 crore from ~4,600 investors |
| Identified Proceeds of Crime | ₹1,353.26 crore |
| Diverted Account Funds | ₹1,175.86 crore |
| Unyielded Cash Collections | ₹177.40 crore |
| Attached Assets Book Value | ₹810.57 crore |
| Attached Assets Market Value | ₹2,399.65 crore |
Non-cooperation and legal proceedings against promoters
Furthermore, key promoters including Navin M. Raheja, Nayan N. Raheja, Nayana N. Singhania, and Nirmal Raheja repeatedly failed to comply with summonses issued under Section 50 of the PMLA and avoided joining search proceedings. Consequently, the ED has moved the Special Court seeking non-bailable warrants against all four individuals.
Moreover, anticipatory bail pleas filed by Nayan N. Raheja faced rejection by the Saket Special Judge on September 19 and subsequently by the Delhi High Court on October 15. Therefore, as the ED chargesheet against Raheja Developers progresses, the agency has sought formal confiscation of all provisionally attached properties and custody of the absconding promoters.
