ED Seizes ₹136 Crore in Ocean Seven Buildtech Case

New Delhi, October 14 (Daily Kiran) : The Enforcement Directorate (ED) has seized assets valued at approximately ₹136.42 crore from Ocean Seven Buildtech Private Limited (OSBPL) under the provisions of the Prevention of Money Laundering Act, 2002. This action was taken by the ED's Headquarters Investigation Unit II in New Delhi. The seized assets include land parcels located in Bilonchi village, Jaipur district, and in Kotputli-Bahrod, Rajasthan, as well as a residential plot in Gurugram's Sector 102.

Additionally, funds from five bank accounts belonging to the company and its promoters, Swaraj Singh Yadav and his wife Sunita Swaraj, were also confiscated. The total value of the seized assets, including a bank balance of ₹69,06,133, now amounts to nearly ₹188 crore. The ED's investigation was initiated based on FIRs filed by the Delhi Police's Economic Offences Wing, along with Haryana and Rajasthan police, against OSBPL and its promoters. These FIRs allege fraud, criminal breach of trust, forgery, and criminal conspiracy related to the company's real estate projects.

Previously, the ED had seized assets worth ₹51.57 crore under a provisional attachment order and filed a prosecution complaint in the Special Court (PMLA), Patiala House Court, New Delhi, on January 9, 2026. Investigations revealed that between December 2006 and March 2015, OSBPL collected over ₹118 crore from buyers for four projects in Rajasthan, including 'Amber Garden' in Bilonchi village and 'Kot Residency', 'Kot Farms', and 'Kot Industrial Estate' in Kotputli-Bahrod.

This money was solicited with assurances that the projects would be developed and the plots would be handed over within three to four years. However, OSBPL had not even applied for project maps with the Jaipur Development Authority (JDA). Site inspections by the JDA and revenue authorities confirmed that the projects were never developed, with most sites remaining vacant. Buyers who paid in full, and in some cases received registered conveyance deeds and possession letters, were never granted possession, nor was there any demarcation of their plots.

Instead of using the funds for development, the money was diverted to unrelated activities, such as purchasing office space in Gurugram and making advances for other projects. The investigation also uncovered that between June and September 2025, following the filing of FIRs, approximately 39 acres of land owned by the accused company and its promoters were transferred to close associates or third parties. These properties have also been seized under the provisional attachment order.