The Directorate of Enforcement (ED) has submitted a prosecution complaint against TDI Infrastructure Ltd. and its directors — Ravinder Taneja, Kamal Taneja, and D N Taneja — in accordance with the provisions of the Prevention of Money Laundering Act (PMLA), 2002, as confirmed by officials on Saturday. This action follows the filing of a chargesheet by the Gurugram unit of the ED before the special judge handling PMLA cases at Patiala House, New Delhi.
The court has issued notices to all individuals accused. As per the ED, the investigation commenced based on multiple FIRs and charge sheets submitted by the Delhi Police. The agency has alleged that TDI Infrastructure, along with its promoters and key managerial personnel, deceived and defrauded numerous homebuyers by failing to deliver flats and housing units within the promised timeframes. In several instances, delays reportedly extended up to 16 to 18 years.
The ED’s investigation revealed that the company initiated several residential and commercial housing projects in Kundli and Sonipat, Haryana, between 2005 and 2014. The agency asserted that the company amassed nearly Rs 4,619.43 crore in advance booking amounts from over 14,100 customers across 26 projects in the region, including Gurgaon and Sonipat. Investigators further indicated that occupation certificates for four projects remain pending, while one project, “Park Street,” is still incomplete.
According to the prosecution complaint, rather than utilizing customer funds for construction and the timely completion of projects, the company’s promoters and directors allegedly diverted significant amounts to subsidiaries and related entities under the pretense of advances for land acquisitions and other purposes.
The ED also alleged that customer funds were utilized to repay loans and make investments, which contributed to significant delays in project completion and possession for buyers. In a recent action, the ED provisionally attached assets valued at Rs 304.06 crore belonging to the accused company and related entities under the PMLA.
Earlier in 2024, properties worth Rs 45.49 crore were also affected.With the latest attachment, the total proceeds of crime identified in the case now stand at Rs 349.55 crore. The ED has sought confiscation of these assets under the provisions of the PMLA.
