The Gurugram Zonal Office of the Enforcement Directorate (ED) has provisionally attached immovable properties valued at around Rs 585.46 crore in connection with a money laundering case involving M/s ADEL Landmarks Ltd. and its promoters. The attachment order was issued on January 9. These assets include various plots and parcels of land spanning approximately 340 acres in locations across Haryana and Uttar Pradesh.
The attached properties are owned by M/s ADEL Landmarks Ltd. and its associated companies. The ED’s investigation was initiated based on multiple FIRs registered by the Haryana Police, Delhi Police, and the Economic Offences Wing (EOW), Delhi. Allegations suggest that the company and its promoters deceived homebuyers by failing to deliver promised flats within agreed timelines, with delays ranging from 12 to 19 years.
The ED investigation uncovered that the company launched several residential projects between 2006 and 2012 in Haryana. These projects, including Cosmocourt, Cosmocity-I, Cosmocity-III, and others, collected approximately Rs 1,075 crore from nearly 4,771 customers. However, these projects remain incomplete to date. The investigation also revealed that funds collected from homebuyers were diverted to group companies instead of being used for project completion, resulting in non-delivery of flats and plots.
