ED Attaches Rs 136.42 Crore in Ocean Seven Buildtech Case
The Enforcement Directorate has attached assets worth Rs 136.42 crore belonging to Ocean Seven Buildtech in a major money laundering investigation.
The Enforcement Directorate (ED) has significantly escalated its crackdown on Ocean Seven Buildtech Pvt Ltd (OSBPL), attaching assets valued at Rs 136.42 crore in a major money-laundering investigation. This latest action, carried out under the Prevention of Money Laundering Act (PMLA), brings the total value of assets seized in this ongoing case to approximately Rs 188 crore.
Massive Asset Seizure Uncovered
The newly attached properties include a mix of immovable and movable assets spread across multiple locations. The ED has identified land parcels located in Jaipur and at Kotputli-Behror in Rajasthan, as well as a residential plot in Sector-102, Gurugram. Additionally, the agency has frozen bank balances amounting to Rs 69,06,133 across five different accounts held by the company, its promoter Swaraj Singh Yadav, and his wife, Sunita Swaraj.
This recent development follows a previous attachment of assets worth Rs 51.57 crore. The agency had already filed a Prosecution Complaint on January 9 this year before the Special PMLA court at Patiala House Court, New Delhi.
The Real Estate Fraud Unmasked
The investigation into OSBPL was triggered by multiple FIRs filed by the Economic Offences Wing of the Delhi Police, alongside the Haryana and Rajasthan Police. The allegations against the company and its promoter, Swaraj Singh Yadav, include cheating, criminal breach of trust, forgery, and criminal conspiracy related to various real estate projects.
The ED's probe revealed a massive scale of deception. Between December 2006 and March 2015, OSBPL allegedly collected more than Rs 118 crore from buyers across four major projects in Rajasthan:
- Amber Garden at Village Bilonchi, Jaipur
- Kot Residency
- Kot Farms
- Kot Industrial Estate at Kotputli-Behror
Broken Promises and Diverted Funds
According to the agency, investors were promised that their plots would be developed and possession handed over within three to four years. However, the reality on the ground was starkly different. In the Amber Garden project, the company began collecting money from buyers as early as December 2006—years before even applying for a project map with the Jaipur Development Authority (JDA).
Site inspections conducted by the JDA and revenue authorities confirmed that these projects were never actually developed. The sites remain largely vacant. Even in cases where buyers had paid the full amount and received registered conveyance deeds or possession letters, they were never actually given possession of their plots.
Instead of developing these residential projects, the ED found that the funds were diverted to unrelated purposes. This included the purchase of office premises for the company in Gurugram and providing advances for other projects.
Attempted Asset Transfer Detected
The investigation also uncovered attempts by the accused to hide their wealth. The ED revealed that following the registration of the FIRs, approximately 39 acres of land owned by the company and its promoters were alienated between June and September 2025. These lands were transferred to close associates or third-party entities, but the agency has successfully moved to attach those properties under a provisional attachment order as well.