The Enforcement Directorate (ED) is expected to chargesheet a Gurugram-based real estate company and its promoters in a multi-crore money laundering investigation linked to alleged irregularities in the Pradhan Mantri Awas Yojna (PMAY) and fraud with homebuyers, official sources said Sunday.
Swaraj Singh Yadav, the MD and key person of the company named Ocean Seven Buildtech Pvt Ltd. (OSBPL), was arrested by the federal probe agency on November 13 and is currently lodged in jail under judicial custody.The ED has alleged that Yadav “fraudulently diverted” and laundered homebuyers’ funds worth `222 crore collected under
PMAY through cancellation and resale of units at inflated prices, collection of substantial cash premiums, and diversion of Escrow proceeds into “shell” (dummy) entities. The PMAY aims to provide housing to the economically weaker sections as part of the Union government’s ambitious plan to ensure ‘home for all’.
The agency, sources said, is carrying out an exercise for valuation of the assets of the company and its promoters so that they can be possibly attached under the anti-money laundering law and later restituted to the victims of the alleged fraud.
A chargesheet is also expected to be filed against Yadav and his linked entities soon, the sources said. There was no immediate response from the company on the allegations made by the ED against it and its MD. The agency had claimed to have found a “pattern of accelerated liquidation” of personal and company-held assets by Yadav across Gurugram, Maharashtra and Rajasthan in the recent past to convert “illicit” gains into easily disposable form.
The ED told a court and in a public statement that Yadav’s wife Sunita Swaraj “relocated” to the US in August, 2025 and was found residing at Harvard University at Boston in Massachusetts, while his children (a son and a daughter) were studying at the Trinity College in Connecticut. “...Such accelerated sales indicates a clear attempt to dissipate assets and evade legal action,” the ED alleged.
