Gurgaon: The Enforcement Directorate (ED) searched seven offices across Delhi-NCR in a money-laundering probe into alleged cheating of homebuyers and diversion of around Rs 120 crore in investor funds by Tashee Land Developers Pvt Ltd, KNS Infracon Pvt Ltd, Soni Infratech Pvt Ltd and associated entities.The searches and surveys were conducted by ED’s Gurgaon zonal office under the Prevention of Money Laundering Act (PMLA). The probe, based on FIRs and chargesheets filed by the economic offences wing of Delhi and Haryana police, involved alleged fraud in Tashee Capital Gateway in Sector 111 and Orion Galaxy, formerly known as Spire South, in Sector 68. It also included alleged diversion of SWAMIH funds, housing-loan fraud and investor fraud.According to ED, Tashee Group collected Rs 386 crore from more than 600 homebuyers, but failed to hand over possession despite delays of 10 to 15 years. The agency alleged that around Rs 120 crore of investor funds was misappropriated, including Rs 98 crore invested through SWAMIH funds.ED said substantial amounts collected from buyers and received through financial and investment facilities were transferred between interconnected group companies and promoter-controlled entities. The agency is tracing inter-company transactions and project-wise utilisation of funds to determine whether money was diverted from one project to another and the total proceeds of crime.The probe has also brought foreign investments and assets linked to promoter Kashi Nath Shukla’s family under scrutiny. ED said family members had settled abroad, while substantial Indian assets were disposed of or liquidated over the past five to 10 years. Investments were allegedly made in foreign entities, including an old-age care home in the UK. One family member had also applied for St Kitts citizenship through the investment route.During the searches, ED said it seized incriminating documents, financial records relating to foreign investments and digital data connected with the companies and projects. Bank accounts and FDRs containing Rs 22 lakh, besides a luxury car, were frozen or seized.
