The Enforcement Directorate arrested real estate promoter S Vasudevan under Section 19 of the Prevention of Money Laundering Act. Consequently, many citizens now ask: Who is S Vasudevan, Ozone Urbana Infra Developer CMD Arrested by ED in Rs 927.22 Cr Fraud Case? Vasudevan is the Chairman, Managing Director, and main promoter of Bengaluru-based Ozone Urbana Infra Developers. The ED’s Bengaluru Zonal Office took him into custody regarding massive homebuyer fraud involving the non-delivery of residential units.
Who is S Vasudevan? Background and career profile
Furthermore, S Vasudevan (Vasudevan Sathyamoorthy) is an architect by training with over three decades of property design experience. He is a registered member of the Council of Architecture and a licensed architect with BBMP, Bengaluru.
Additionally, Vasudevan founded the Ozone Group in 2004, building major residential townships, commercial properties, and retail hubs across southern India. According to Ministry of Corporate Affairs filings, he holds active directorships in over 20 real estate and infrastructure firms.
| Profile Aspect | Details & Background |
| Full Name & DIN | Vasudevan Sathyamoorthy (DIN: 00022732) |
| Professional Qualifications | Architect (Council of Architecture, BBMP Licensed) |
| Key Corporate Roles | Founder, CMD of Ozone Group & Ozone Urbana Infra |
| Industry Experience | 30+ Years in Real Estate & Infrastructure Design |
| Associated Entities | Directorships across 20+ group companies |
Central agencies track extensive diversion of homebuyer funds
Meanwhile, central investigators revealed that the developer dishonestly retained and diverted booking funds amounting to Rs 927.22 crore. A special court in Bengaluru granted the agency 14 days of custody on October 1 to facilitate deeper interrogation.
Additionally, multiple First Information Reports lodged by Bengaluru City Police initially triggered this money laundering probe. The Central Bureau of Investigation also registered FIRs against the firm following directives from the Supreme Court.
Fraudulent pre-construction EMI schemes trapped homebuyers
Therefore, ED officials stated that the builder induced buyers using attractive pre-construction EMI subvention offers. The company promised to pay EMIs until handing over flat possessions. However, the developer failed to complete construction, defaulted on payments, and misappropriated upfront booking amounts.
Consequently, ED officers conducted searches across multiple premises under Section 17 of PMLA during August 2025. The agency previously issued provisional attachment orders locking down properties valued at Rs 423.38 crore. Vasudevan remains a common director across three linked entities currently facing parallel criminal probes. Thus, agency officials continue tracking the complex layering and ultimate utilization of crime proceeds.
