ED has given Bangalore’s big real estate company Ozone Urbana Infra Developers Pvt. Ltd. And has taken major action against its promoters. In the case of money laundering, ED has attached assets worth Rs 423.38 crore on 4 October 2025. This action has been taken under PMla.

ED investigation is based on several FIRs, which were registered in different police stations in Bangalore city. In these FIRs, the company and its promoters were accused of fraud and conspiracy. Apart from this, on the order of the Supreme Court, CBI, EO-I, New Delhi also registered a case against the company.

Thousands of home buyers do not capture flat

Investigation has revealed that Ozone Urbana Infra Developers Pvt. Ltd. Did not complete their housing projects on time and did not capture the flat to thousands of home buyers. The company had promised to woo the people that the EMI of home loan would be filled itself till it is captured, but later neither gave EMI nor returned flat or money. ED investigation has revealed that the company and its promoter S.K. Vasudevan grabbed around Rs 927 crore from buyers … He transferred this money to the accounts of other group companies and his family … Investigation also found that the money that the builder had taken for the project development was spent elsewhere …

Raid at 10 places
The Bangalore zonal team of ED conducted raids at 10 places on 1 August 2025. Many important documents and evidence were found from there, which revealed the fund diversion. Now, ED has attached the assets of the company and its promoter provisional. In this, Ozone Urbana Infra Developers Pvt. Ltd. 92 flats of Avenue Project, 13 flats of Aqua-2 project, 4.5 acres of commercial land and promoter S. Vasudevan and his wife have 179 acres of land. The total price of all these properties has been stated to be Rs 423.38 crore. However, the investigation of the case is going on.

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The Gurugram zonal team of the Enforcement Directorate (ED) took major action in the real estate scam while Universal Buildwell PVT. Ltd. Three promoters of Raman Puri, Varun Puri and Vikram Puri have been arrested. All three had been running away from court summons for the last 7 years and in many cases the court declared them a fugitive. Delhi Police recently caught them, after which the ED took them in its custody on 22 July.

The three accused were produced in the special PMLA court of Gurugram, from where the court has sent them to ED till 29 July 2025. The ED investigation began after more than 30 FIRs which are registered against Universal Buildwell, its directors and promoters in different police stations of Delhi-NCR. These people are accused that they recovered money from hundreds of people by pretending to give flat and commercial property, but have not completed the projects till date.

Fraud of more than 1000 crore rupees
People had invested money before 2010, but so far neither the flat nor the project was completed. The company was later taken into the insolvency process and NCLT ordered some flats to be given to buyers. The rest of the property was put in liquidation.

Investigation has revealed that the promoters of Universal Buildwell collected more than Rs 1000 crore from people in the name of 8 big projects. These include projects of Gurugram and Faridabad such as Universal Trade Tower, Universal Greens, Universal Business Park, Aura, Universal Square, Market Square, The Pavilion and Universal Prime.

Fake documents ready for bank loan
Of these money, only one small part was spent on the project. He spent the rest of the money in buying private land, taking expensive property and personal benefits. Not only this, he sold the property twice by making fake documents, cheated banks and investors by signing fake on some agreements.

The three accused prepared fake documents for bank loans and also fraudulently fraudulently from some financial institutions. Also, people were taken into a trap by showing the Assured Return Scheme of the projects. The ED has taken forward the investigation by taking data from the resolution professional and now this entire network is being investigated in depth. ED suspects that more people can join this fraud.

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