ED raids Gurugram builder Imperia, seizes ₹50 lakh, 3 cars in ₹63 crore fraud
Synopsis
Fifteen years after collecting bookings, a Gurugram builder still hasn't handed over a single flat — and now the ED has raided eight premises, seized ₹50.50 lakh in cash and three luxury cars, and uncovered alleged double-selling of units. The ₹63 crore fraud figure covers just one project; the full damage across multiple sites is still being counted.
Key Takeaways
The Enforcement Directorate searched 8 premises of Imperia Wishfield Private Limited (IWPL) and Imperia Structures Limited (ISL) in Gurugram and Delhi on 30 July 2025 .
Investigators seized ₹50.50 lakh in cash and 3 high-end luxury vehicles along with digital devices and financial documents.
The alleged fraud stands at over ₹63 crore collected from buyers of the Elvedor project in Gurugram's Sector 37 since 2011 — with no possession delivered in 15 years .
The ED found alleged instances of multiple bookings for the same unit and deliberate withholding of Buyer-Builder Agreements (BBAs).
Promoter directors named include Harpreet Singh Batra , Brajinder Singh Batra , Pradeep Sharma , and Avinash Setia .
Proceeds of crime from Imperia Mindspace, Gurugram and Imperia Business Park, Greater Noida are still being quantified.
The Enforcement Directorate (ED) on Wednesday, 30 July 2025, searched eight residential and business premises linked to Gurugram-based real estate firms Imperia Wishfield Private Limited (IWPL) and Imperia Structures Limited (ISL), recovering ₹50.50 lakh in cash, three high-end luxury vehicles, digital devices, and incriminating documents. The searches are connected to an alleged fraud exceeding ₹63 crore perpetrated against property buyers across the Delhi-NCR region.
Who Was Targeted
The ED's Gurugram Zonal Office conducted the search and survey operations under provisions of the Prevention of Money Laundering Act (PMLA), 2002. Premises of promoter directors — Harpreet Singh Batra, Brajinder Singh Batra, Pradeep Sharma, and Avinash Setia — as well as the present Resolution Professional were covered across Gurugram and Delhi.
The agency had earlier registered an Enforcement Case Information Report (ECIR) against ISL, IWPL, and their promoter directors, acting on multiple FIRs filed by police authorities in Haryana, Delhi, and Uttar Pradesh.
The Alleged Fraud
According to ED officials, IWPL began collecting bookings from buyers for its Elvedor project in Gurugram's Sector 37 as far back as 2011. Despite collecting funds over 15 years, the company has failed to hand over possession of units to buyers. Investigation findings revealed that IWPL collected approximately ₹63 crore from Elvedor buyers alone, with proceeds of crime from other projects — Imperia Mindspace, Gurugram and Imperia Business Park, Greater Noida — still being quantified.
Investigators allege the firm diverted buyer funds to service its other liabilities and routed investments towards loans and advances extended to related entities and persons, effectively siphoning money away from the projects for which it was collected.
Key Findings from the Searches
Among the most serious findings, the ED noted instances where bookings were allegedly accepted from multiple buyers for the same individual unit, while the company intentionally withheld Buyer-Builder Agreements (BBAs) and instead executed only Memoranda of Understanding (MoUs) that lacked unit identification and possession timelines. The Elvedor project is currently under insolvency resolution proceedings.
ISL separately accepted advance bookings from buyers of Imperia Mindspace and Imperia Business Park on the promise of possession along with assured monthly returns and lease returns, commitments the company reportedly failed to honour. The ED has also received multiple direct complaints from home buyers of the projects under investigation.
What Was Seized
During Wednesday's operations, investigators seized ₹50.50 lakh in cash and three high-end luxury vehicles. Digital devices and documents recovered include property papers linked to promoters and directors, audited financial statements, Tally accounting data, and detailed records of fund diversion and buyer investments.
What Comes Next
The ED's investigation is ongoing, with proceeds of crime from the Mindspace and Business Park projects yet to be fully quantified. Depending on findings, the agency may move to attach properties or make arrests under the PMLA. Home buyers who have filed complaints with the agency are expected to be key witnesses as the probe advances.
Point of View
Executing vague MoUs instead of binding agreements, and allegedly selling the same unit to multiple buyers. RERA was meant to end exactly this. That buyers are still approaching the ED rather than a functioning regulator with teeth raises hard questions about enforcement at the state level. The ₹63 crore figure is almost certainly a floor: with Mindspace and the Greater Noida park still being quantified, the eventual number could be significantly higher. For home buyers still waiting, the insolvency proceedings over Elvedor are a grim reminder that resolution, when it finally comes, rarely makes victims whole.
NationPress
30 Jul 2026
Frequently Asked Questions
What is the ED's case against Imperia Wishfield and Imperia Structures?
The ED is investigating IWPL and ISL under the Prevention of Money Laundering Act (PMLA), 2002, for allegedly defrauding property buyers of over ₹63 crore. The companies are accused of collecting funds for real estate projects — including the Elvedor project in Gurugram's Sector 37 — without delivering possession, diverting buyer funds to other liabilities, and in some cases accepting bookings from multiple buyers for the same unit.
What did the ED seize during the Gurugram builder raids?
During searches on 30 July 2025, the ED seized ₹50.50 lakh in cash and three high-end luxury vehicles. Investigators also recovered digital devices, audited financial statements, Tally accounting data, property documents linked to promoters and directors, and records detailing fund diversion and buyer investments.
How long have buyers been waiting for possession of their flats?
According to the ED, IWPL began accepting bookings for the Elvedor project in Gurugram's Sector 37 from 2011. Despite collecting funds over 15 years, the company has not handed over possession of units. The project is currently under insolvency resolution proceedings.
Who are the promoter directors named in the ED case?
The ED's Enforcement Case Information Report names Harpreet Singh Batra, Brajinder Singh Batra, Pradeep Sharma, and Avinash Setia as promoter directors of IWPL and ISL. The present Resolution Professional of the companies was also covered in the searches.
Which other projects are under ED scrutiny beyond Elvedor?
The ED is also examining Imperia Mindspace in Gurugram and Imperia Business Park in Greater Noida. Proceeds of crime from these two projects are still being quantified, meaning the total fraud figure is likely to exceed the ₹63 crore established for the Elvedor project alone.
