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ED seizes Rs 13-cr cash,valuables during raids on Earth Infra sites

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The ED on Friday raided 10 sites located in Gurugram and Delhi linked to directors, promoters and associated entities of Earth Infrastructures Ltd, seizing Rs 6.3 crore cash and jewellery worth around Rs 7.5 crore, besides silver bullion and luxury watches.

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The accused allegedly launched multiple real estate projects, and collected Rs 2,024.45 crore from over 19,425 homebuyers/investors by promising residential/commercial units; along with assured returns.

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However, projects were either not completed or possession was not handed over to the investors. The diverted funds were allegedly used for acquisition of land parcels in the name of group companies and family members.

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